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Two ultra-luxury Huawei Luxeed Maextro S800 sedans were spotted in Sydney, marking the brand's potential entry into the Australian market. Priced between $A250,000 and $A330,000, these nearly 5.5-meter-long vehicles feature advanced self-driving technology and are set to compete with high-end models like Mercedes-Benz Maybach and Rolls-Royce. The Maextro brand is a joint venture between Huawei and JAC, with local testing possibly indicating a launch in 2025.
China’s President Xi Jinping urged multinational CEOs to safeguard global trade and supply chains amid rising US tariffs, emphasizing the need for cooperation to stabilize the economy. The meeting, attended by around 40 executives, highlighted concerns over tightening regulations and foreign investment challenges in China. Xi noted the significant contributions of foreign enterprises to China's economy, while reiterating the mutually beneficial nature of China-US trade relations.
Mercedes-Benz is recalling 12,308 EQA and EQB electric vehicles in China due to a fire risk linked to battery management system software issues and production inconsistencies. The recall, effective from April 16, follows a defect investigation by the State Administration for Market Regulation, prompting the company to advise users to limit charging to 80% until repairs are made. This marks the second recall of the EQ series in a year, highlighting ongoing safety concerns for the brand's electric models.
President Donald Trump has announced a 25% tariff on auto imports, set to take effect in April, aimed at boosting domestic manufacturing and generating $100 billion annually. While he stated that Tesla CEO Elon Musk did not influence this decision, he suggested the tariffs could be "net neutral or good" for companies with U.S. plants.Tesla has warned the U.S. Trade Representative about potential sourcing challenges for certain components due to the tariffs, which have sparked global outrage and calls for countermeasures from countries like Germany and Japan. The American Automotive Policy Council has urged that tariffs should not burden consumers or harm competitiveness.
President Trump has announced a permanent 25% tariff on all imported vehicles and auto parts, effective April 3, sparking immediate backlash from affected countries, particularly Canada, which threatens countermeasures. The market reacted negatively, with significant declines in shares of major automakers, including General Motors and Ford, while Tesla saw a slight increase.
Barclays has downgraded BMW's stock rating from Equalweight to Underweight, while raising the price target to €73.50 from €68.50. Analysts cited BMW's lower EBIT margin sensitivity to EU-US tariffs as a disadvantage compared to competitors, particularly Mercedes-Benz, amid ongoing challenges in the automotive industry. The firm expressed concerns over structural profit erosion in China and potential price normalization post-COVID, positioning BMW as the least preferred German OEM.
Nio's Firefly brand is set to launch its first model on April 19, targeting global markets with a focus on small cars. The model, priced at RMB 148,800 ($20,510), features advanced safety with nine airbags and will utilize Nio's battery swap stations. Despite facing a 30.7% tariff in the EU, the brand aims to compete with established players like BMW Mini and Mercedes-Benz Smart.
Barclays has upgraded Mercedes-Benz to "equal-weight" from "underweight" following better-than-expected Q4 profitability and a credible cost-savings plan, enhancing the mid-term earnings outlook. The firm notes that the imminent April 2 deadline for reciprocal tariffs is likely priced in, with Mercedes' exposure to existing tariffs being more limited than that of BMW. Additionally, the company's shareholder return policy, including a proposed EUR 5 billion share buyback, is seen as a key support factor.
Barclays upgraded Mercedes-Benz Group to Equal Weight from Underweight, raising its price target to €57.5 due to stronger-than-expected profitability and an improved product mix. Key factors include a better-than-expected Q4 top-end vehicle mix, an improved EBIT margin of 8.1%, and a constructive capital markets day highlighting new model launches. Despite concerns over potential tariff risks, the bank believes recent improvements justify the rating upgrade, enhancing the mid-term earnings outlook.
UBS is set to nominate Renata Jungo Brüngger and Lila Tretikov for election to its board of directors at the annual general meeting on April 10. Claudia Böckstiegel and Nathalie Rachou will not seek re-election. Brüngger, currently with Mercedes-Benz Group, will continue in her role until December 2025.
Mercedes-Benz Group AG
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
huawei luxury sedans spotted in sydney ahead of australian launch
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