DAIMLER AG ADRS/1/4

In the first half of the year, Volkswagen, Mercedes‑Benz and BMW saw sales decline by 2.9 percent to around €284 billion, while the 19 carmakers examined overall posted a sales increase. The three German manufacturers’ EBIT fell by 19.0 percent to €13.0 billion, and they rank 16th, 17th and 19th in the corporate ranking. Main reasons are structural cost disadvantages in Germany and a roughly 25 percent drop in sales in China. The crisis is leading to extensive job-cut plans and mobilization by IG Metall, while the VDA is calling for greater willingness to change. » Mere på finanzen.net

Mercedes-Benz reported group sales fell to €32.06 billion in Q2, while EBIT rose to €1.55 billion and net income to €1.09 billion. Mercedes‑Benz Cars recorded adjusted EBIT of €909 million and a RoS of 4.0 percent, above analysts' estimates. The vans division increased sales by 5 percent to €4.46 billion and achieved an adjusted operating margin of 10.2 percent. For the full year, Mercedes‑Benz reaffirmed its previous group-level guidance. » Mere på finanzen.net

A US Senate bill that would ban the import, production and sale of connected vehicles from manufacturers with more than 15% Chinese ownership has cleared a committee hurdle. Mercedes holds just under 10% with BAIC and almost 10% with Li Shufu, but the company stresses no shareholder holds more than 10% and large shareholders do not directly run the business. Mercedes also pointed to about 160,000 US jobs and its plants in Tuscaloosa and Charleston. There were disagreements in the committee over the 15% threshold; the draft allows exemptions by the Commerce Department. » Mere på finanzen.net