Latest news with #R233
The Citizen
a day ago
- Automotive
- The Citizen
Mercedes-AMG C63 a step closer to dropping four-cylinder PHEV
Latest report confirms previous speculation of the C63 reverting to six-cylinders, also with a plug-in hybrid setup, instead of reviving the V8. Mercedes-AMG is reportedly soon to revert to six-cylinders for the C63. Image: Mercedes-AMG With rumours of its move away from four-cylinders continuing to mount, a senior Mercedes-AMG employee has let slip that the controversial plug-in hybrid (PHEV) powertrain in the C63 will indeed be phased-out based on poor reception and slumping sales. No, yes? First mentioned in 2023 following a report from US publication Car and Driver that the 2.0-litre based unit has received significant backlash despite being powerful than the 4.0-litre bi-turbo V8 it replaced, an AMG figure head stated that adapting the V8 for Euro 7 emissions regulations had already taken place in response to dealers struggling to shift units dramatic prices cuts. ALSO READ: Mercedes-AMG C63 set to go six-cylinder PHEV route in 2026 According to the most recent report by Mercedes-Benz dealers in the United Kingdom have offered discounts of up to £9 500 (R233 386) on the C63, bringing its price tag to £90 095 (R2 213 363) or £17 525 (R430 536) less than the sticker price of the BMW M3 Competition. 'We could have explained it better' Similarly, discounts in the States have also been enforced, with AMG CEO, Michael Schiebe, admitting to MotorTrend last month that it 'could have better explained' the system before putting it into the C63. 'There are pure V8 fans, and it's hard to convince them of this four-cylinder hybrid technology. It's my job to do a constant review of our portfolio. I'm pretty confident that we will fulfil our customers' dreams in the next two to three years,' he said. The combination of the 2.0-litre turbo-petrol engine and plug-in hybrid hardware has main the biggest point of content with the new Mercedes-AMG C63. Image: Mercedes-AMG Despite Mercedes-AMG debunking the hybrid's withdrawal in a response to Germany's Auto Motor und Sport days after the Car and Driver statement, an unnamed executive has admitted to Britain's Autocar that the setup has 'failed to resonate' with buyers. 'Technically, the four-cylinder is one of the most advanced drivetrains available in a production car. It's also right up there on performance. But despite this, it failed to resonate with our traditional customers. We've recognised that,' the source told the publication. In spite of its combined outputs of 500kW/1 020Nm, 125kW/270Nm more than the V8-engined C63, the newcomer' 2 165 kg kerb mass has been cited as another reason for its slump in sales, with recent evaluations in Europe and the States also criticising the battery pack getting hot at over 200 km/h. Return of six In confirmation with the most recent Autocar report in April, the unnamed source said the plug-in hybrid 2.0-litre will give away to a six-cylinder in the reported form of a 3.0-litre plug-in hybrid modelled on the mild-hybrid configuration that powers the AMG CLE 53. Seemingly not earmarked for a return is the 4.0-litre V8, which will produce a reported 478kW/880Nm with mild-hybrid assistance in the forthcoming AMG CLE 63. While no official word from Mercedes-AMG has yet been made confirming the move to back six-cylinders for its flagship C-Class since the supercharged C32 AMG made from 2000 to 2004, expect possible clearer details to emerge throughout the rest of the year. NOW READ: Mercedes-AMG C63 V8 return blasted as German sales tumble
IOL News
5 days ago
- Business
- IOL News
Financial Ombud gets bank to write off R233 000 home loan arrears after it sold home for R10 000
The National Financial Ombud Scheme South Africa intervened in a complaint after a bank sold a home for R10,000, leading to the cancellation of R233,000 in arrears. Image: File picture. The National Financial Ombud Scheme South Africa (NFO) has emphasised the need for fairness from financial institutions after intervening in a case where a bank sold a home for just R10,000 due to a client's home loan arrears. The intervention of the NFO led to the bank writing off the client's home loan arrears of more than R233,000. The details of the matter are contained in the NFO's recently released 2024 annual report. Between 1 March 2024 and 31 December 2024, the NFO handled 35,855 complaints that was dealt with by its four divisions - Non-life and Life Insurance, Banking and Credit. According to the report, in a complaint handled by the Ombud's banking division, a complainant held a Home Loan account with a bank and the account was in arrears. The report explained that the bank exercised its rights in terms of the home loan agreement and proceeded with legal action to recover the full outstanding balance owing on the account. "Judgment was granted and the property was declared executable. There was no reserve price set by the court for the sale of the property. The bank proceeded to sell the property on auction for R10,000 and the complainant remained liable for a shortfall of R233,241.90 after the proceeds of the sale had been credited to the account." Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ When the NFO investigated the complaint, it was found that the property had been valued at R590,000. The outstanding balance on the home loan account at the time of the sale was R234,541.06. In addition, outstanding rates and taxes on the property amounted to R335,575.12 at the time of the sale. However, the NFO said it was of the view that despite these costs, there was still sufficient value in the property, and that a higher selling price could have been achieved by the bank to ensure that the full outstanding balance on the account was settled. The report said: "Whilst the NFO remained cognisant that the court did not set a reserve price and therefore the bank was not in contravention of any court order, the office exercised our equity jurisdiction and remained firm in its view that it could never be considered fair nor reasonable of a bank to sell someone's home for R10,000 when it has a market value of R590,000.00." The NFO therefore recommended that the bank write off the full shortfall amount. "The bank accepted the recommendation, and the full shortfall of R233,241.90 was written off," the report said. THE MERCURY
