Latest news with #Mercedes-BenzGroupAG
Yahoo
13-05-2025
- Automotive
- Yahoo
Mercedes moving production of its GLC SUV from Germany to the US
Germany's Mercedes-Benz Group AG confirmed that it will move the production of its best-selling GLC sport utility vehicle to the US from Germany, reported Bloomberg. The carmaker announced at the beginning of this month that it would move the production of 'a core segment vehicle' to the other side of the Atlantic, but until now, they haven't named the model. Mercedes also declined to comment on whether the step is a result of the US President's tariff policy, adding a levy of 25% to the original 2.5% car imports to the US were already facing. 'If you see what we want to achieve with volumes on this model, it makes sense to bring it to the US,' Mercedes North America chief Jason Hoff said during a press briefing on Monday. Currently, the German-made GLC is Mercedes' most popular US import, with a starting price of $49,250 (€44,193). Mercedes sold more than 64,000 of this hybrid model last year in the US, more than 50% more than in the previous year. Related Mercedes-Benz stock dips after pulling profit guidance on tariff fears BMW Group profits plunge but outlook maintained despite tariff pressures Volkswagen Group sees plunge in performance as US tariffs pose risks The production of the car will take place in Mercedes' Tuscaloosa, Alabama, plant. The output of the US-made GLC SUV is planned to start in 2027. Other carmakers also announced investments in the US, as they aim to reduce costs that the US President's tariff policy brings about, by making manufacturing local, just as the US President wants. In the case of Mercedes, there is no information about how many more jobs this step would create or if there is any additional financial investment planned. Yet, the White House hastily welcomed the decision. They also highlighted that BMW is considering boosting production at its South Carolina plant, Stellantis will re-open its plant in Illinois, Honda plans to shift production of the Civic from Japan to the US, and Hyundai plans a $20 billion investment in the country, among others. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
13-05-2025
- Automotive
- Euronews
ATM 2025: Tourism leaders tackle climate, tech and growth strategies
From eco-tourism in Malaysia to AI-led theme parks in the UAE, the Arabian Travel Market 2025 spotlighted the shifting priorities of the global tourism industry. In Dubai, leaders discussed climate resilience, data-driven experiences and investment in regenerative travel. Saudi Arabia's Aseer region announced over €11 billion in sustainable development, while Abu Dhabi's Miral emphasised machine learning to enhance visitor engagement. Destinations from Croatia to the Gulf are embracing smarter infrastructure and greener models. At ATM 2025, the message was clear: future travel must be connected, inclusive and climate-conscious. Germany's Mercedes-Benz Group AG confirmed that it will move the production of its best-selling GLC sport utility vehicle to the US from Germany, reported Bloomberg. The carmaker announced at the beginning of this month that it would move the production of 'a core segment vehicle' to the other side of the Atlantic, but until now, they haven't named the model. Mercedes also declined to comment on whether the step is a result of the US President's tariff policy, adding a levy of 25% to the original 2.5% car imports to the US were already facing. 'If you see what we want to achieve with volumes on this model, it makes sense to bring it to the US,' Mercedes North America chief Jason Hoff said during a press briefing on Monday. Currently, the German-made GLC is Mercedes' most popular US import, with a starting price of $49,250 (€44,193). Mercedes sold more than 64,000 of this hybrid model last year in the US, more than 50% more than in the previous year. The production of the car will take place in Mercedes' Tuscaloosa, Alabama, plant. The output of the US-made GLC SUV is planned to start in 2027. Other carmakers also announced investments in the US, as they aim to reduce costs that the US President's tariff policy brings about, by making manufacturing local, just as the US President wants. In the case of Mercedes, there is no information about how many more jobs this step would create or if there is any additional financial investment planned. Yet, the White House hastily welcomed the decision. They also highlighted that BMW is considering boosting production at its South Carolina plant, Stellantis will re-open its plant in Illinois, Honda plans to shift production of the Civic from Japan to the US, and Hyundai plans a $20 billion investment in the country, among others.
Euronews
13-05-2025
- Automotive
- Euronews
Mercedes moving production of its GLC SUV from Germany to the US
Germany's Mercedes-Benz Group AG confirmed that it will move the production of its best-selling GLC sport utility vehicle to the US from Germany, reported Bloomberg. The carmaker announced at the beginning of this month that it would move the production of 'a core segment vehicle' to the other side of the Atlantic, but until now, they haven't named the model. Mercedes also declined to comment on whether the step is a result of the US President's tariff policy, adding a levy of 25% to the original 2.5% car imports to the US were already facing. 'If you see what we want to achieve with volumes on this model, it makes sense to bring it to the US,' Mercedes North America chief Jason Hoff said during a press briefing on Monday. Currently, the German-made GLC is Mercedes' most popular US import, with a starting price of $49,250 (€44,193). Mercedes sold more than 64,000 of this hybrid model last year in the US, more than 50% more than in the previous year. The production of the car will take place in Mercedes' Tuscaloosa, Alabama, plant. The output of the US-made GLC SUV is planned to start in 2027. Other carmakers also announced investments in the US, as they aim to reduce costs that the US President's tariff policy brings about, by making manufacturing local, just as the US President wants. In the case of Mercedes, there is no information about how many more jobs this step would create or if there is any additional financial investment planned. Yet, the White House hastily welcomed the decision. They also highlighted that BMW is considering boosting production at its South Carolina plant, Stellantis will re-open its plant in Illinois, Honda plans to shift production of the Civic from Japan to the US, and Hyundai plans a $20 billion investment in the country, among others. UK wage growth slowed down in the three months to March 2025, as businesses braced for national insurance increases which came into effect at the beginning of April. Regular pay excluding bonuses in the UK grew by 5.6% on an annual basis to £671 (€798.3) a week in the three months to March 2025, according to the Office for National Statistics (ONS). This was below the 5.9% seen in the previous period, while being less than analyst estimates of 5.7% as well. March's reading was also the lowest since the three months to November 2024, dragged down by slower wage growth in both the private and public sector. Private sector wages in the UK slowed to 5.6% in the three months to March, down from 5.9% in the previous period. This was also the lowest number since the three months to October 2024. Public sector wages grew at 5.5%, which was slower than the 5.7% seen in the previous three-month period, while also being the lowest since the three months to December 2024. Hotels, restaurants, wholesale and retail industries experienced the most robust yearly wage growth in the three months to March, at 6.9%, with wages rising 5.6% in the services industry. Construction wages increased 6.4%, with manufacturing industry wages edging up 5.4%. Wages in the finance and business services industry jumped 4%. Adjusted for inflation, real wages rose by 1.8% in the three months to March, which was the weakest growth since February 2024. Average weekly earnings including bonuses advanced 5.5% on an annual basis to £722 (€858.9) per week in the three months to March 2025. This was down from 5.7% in the previous two periods, but was still ahead of market expectations of 5.2%. Alice Haine, personal finance analyst at Bestinvest by wealth manager Evelyn Partners, said in an email note: 'While easing wage growth may not be the best news for consumers grappling with high living costs, one comforting factor is that wages are still rising faster than inflation. 'This means pre-tax headline incomes are stretching further than they did 12 months ago, although households would be wise to adopt a cautious approach to their personal finances for now.' Haine added that wage growth could slow even more in the coming months as the impact of the UK's new tax measures on businesses and US tariffs affect company margins. She highlighted: 'Many people may not feel their wages are going further in real terms either, as frozen income tax thresholds – set to remain in place until at least 2028 – mean they are being drawn deeper into higher rates of tax.' The UK's unemployment rate rose to 4.5% from January to March 2025, in line with analyst estimates, according to the ONS. This was in contrast to the 4.4% recorded for the last four consecutive periods. This was the highest unemployment rate since the three months to August 2021, with increases in the number of people without jobs for up to six months, six to 12 months and more than 12 months. The number of people with jobs rose by 112,000, to 34 million. This was the smallest advance since the three months to December 2024, mainly suppressed by a drop in full-time employment. The number of people with second jobs also grew, now accounting for 3.9% of all employed people. Danni Hewson, head of financial analysis at AJ Bell, said in an email note: 'Ever since last year's Budget shocked employers with a chunky increase to national insurance, businesses have been warning that increased labour costs would impact their ability to hire and retain staff.' She added: 'The latest figures from the Office for National Statistics appear to show those warnings had merit, though the organisation continues to warn about the validity of these figures due to low engagement. Unemployment is up, vacancy numbers have dwindled to significantly below where they were before the pandemic and wage growth has slowed.' Hewson highlighted that businesses have pulled back on significant pay increases for skilled employees, now that inflation has cooled a little. She also pointed out that labour-intensive sectors such as accommodation and food sectors have been the most impacted, mainly due to consumers still being wary of spending. Haine explained: 'Rising employment costs have already prompted some businesses to scale back pay rises and hiring this year, with the global uncertainty helping to cement that strategy. In uncertain times, keeping personal finances on track is imperative. Losing a job can derail household finances that don't have reserves in place.' She added: 'Building a robust emergency fund that can cover the regular bills during any periods without earned income, trimming expenditure where possible, paying down expensive debts and even signing up for income protection are sensible ways to ease financial worries, particularly for households with no back-up funds to protect them.'
Calgary Herald
01-05-2025
- Automotive
- Calgary Herald
Mercedes will make another model in U.S. to counter tariffs
Article content (Bloomberg) — Mercedes-Benz Group AG plans to move production of another vehicle to the U.S. as President Donald Trump's tariffs raise costs and threaten to make imported cars uncompetitive. Article content Article content The German automaker said in a statement that it will shift assembly of a 'core segment vehicle' to its factory in Tuscaloosa, Alabama, by 2027. Though Mercedes didn't specify which model, its most popular import in that category is the GLC sport utility vehicle, which sold 64,163 units in the US last year. Article content Article content The shift suggests that Trump's campaign to bring more manufacturing to the U.S. by imposing new tariffs is having some success, even as rapid-fire policy changes take a toll on financial markets, business planning and the economy. Overall US manufacturing activity shrank in April by the most in five months, according to the Institute for Supply Management's factory gauge. Article content Article content Trump earlier this week signed a pair of directives easing the impact of his tariffs on the automotive industry following weeks of lobbying. A basic 25 per cent levy remains in place, and the toll on the industry is growing. General Motors Co. on Thursday cited an exposure of as much as $5 billion, though that would've been far bigger without the latest relief measures. Article content Mercedes and Jeep owner Stellantis NV have withdrawn their financial forecasts for this year, citing the duties. Volkswagen AG has left its outlook largely unchanged but warned it isn't yet factoring in the impact of the levies. UK automaker Jaguar Land Rover paused shipments to the US following the introduction of the tariffs. Article content Article content Higher Costs Article content Article content As the duties upend supply chains and raise costs, some carmakers have said they'll pass those on to buyers. Article content Mercedes had said in April that it was considering moving some production due to added costs stemming from the duties. The company is also considering withdrawing its least expensive cars from the US because tariffs will make their sales economically unfeasible, Bloomberg reported last month. Article content The Tuscaloosa plant made around 260,000 vehicles in 2024, Mercedes said, including the GLE, GLS, GLE Coupe and Mercedes-Maybach GLS. The site also makes some vehicles for export from the US, including the EQE SUV, EQS SUV and Mercedes-Maybach EQS SUV for all global markets, the carmaker said. Article content Mercedes touted its US presence in the statement, saying it employs more than 11,000 people in the country and works with some 400 suppliers there. Article content Markets were closed in Frankfurt on Thursday for a holiday. Mercedes shares have fallen 2.5 per cent so far this year amid investor concern around the effect of tariffs. Article content
Edmonton Journal
01-05-2025
- Automotive
- Edmonton Journal
Mercedes will make another model in U.S. to counter tariffs
Article content (Bloomberg) — Mercedes-Benz Group AG plans to move production of another vehicle to the U.S. as President Donald Trump's tariffs raise costs and threaten to make imported cars uncompetitive. The German automaker said in a statement that it will shift assembly of a 'core segment vehicle' to its factory in Tuscaloosa, Alabama, by 2027. Though Mercedes didn't specify which model, its most popular import in that category is the GLC sport utility vehicle, which sold 64,163 units in the US last year.
