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MBGYY Mercedes Benz Group AG (PK)

17.69
-0.38 (-2.10%)
Last Updated: 19:08:26
Delayed by 15 minutes
Name Symbol Market Type
Mercedes Benz Group AG (PK) USOTC:MBGYY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.38 -2.10% 17.69 17.69 17.71 17.91 17.67 17.88 96,595 19:08:26

Europe Car Makers Shares Rise After EU Announces Probe of Chinese Auto Companies

13/09/2023 9:26am

Dow Jones News


Mercedes Benz (PK) (USOTC:MBGYY)
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From May 2023 to May 2024

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By David Sachs

 

Shares in Europe's major auto makers rose Wednesday after the European Union's antitrust body said it would launch an investigation of potentially unfair market practices by Chinese electric car companies.

"Global markets are now flooded with cheaper Chinese electric cars," European Commission President Ursula von der Leyen said in the State of the European Union Address. "And their price is kept artificially low by huge state subsidies. This is distorting our market."

At 0749 GMT, shares in Volkswagen were up 2.9% to EUR112.14. Shares in Renault jumped 4.9% to EUR38.55. BMW was up 2.3% to EUR98.85. Mercedes-Benz stock was up 1.1% to EUR67.65, while Stellantis was up 1.1% to EUR18.03

 

Write to David Sachs at david.sachs@wsj.com

 

(END) Dow Jones Newswires

September 13, 2023 04:11 ET (08:11 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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