1019 GMT - Mercedes-Benz's reported recall of models affecting 250,000 cars worldwide implies a hit of under EUR100 million, UBS analysts say in a note. The recall, reported by Spiegel on Tuesday, relates to a part of the backup system on several of the German carmaker's models that can cause the engine to fail, though no serious incidents have been reported, the analysts say. According to German car-industry regulator KBA, affected models include the AMG GT, C-Class, CLE, E-Class, EQE, EQS, GLC, S-Class and SL models from 2023, UBS says, noting that parts of affected cars will be replaced. Mercedes and the KBA didn't respond to requests for comment from Dow Jones Newswires. Shares rise 4.8% in Germany to EUR71.33. (david.sachs@wsj.com)
(END) Dow Jones Newswires
February 22, 2024 05:22 ET (10:22 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments