Advertisement
Canada markets open in 57 minutes

  • S&P/TSX

    21,947.41
    +124.21 (+0.57%)
     

  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     

  • DOW

    38,675.68
    +449.98 (+1.18%)
     

  • CAD/USD

    0.7317
    +0.0009 (+0.12%)
     

  • CRUDE OIL

    78.69
    +0.58 (+0.74%)
     

  • Bitcoin CAD

    87,137.77
    +16.78 (+0.02%)
     

  • CMC Crypto 200

    1,383.20
    +70.57 (+5.37%)
     

  • GOLD FUTURES

    2,324.10
    +15.50 (+0.67%)
     

  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     

  • 10-Yr Bond

    4.5000
    0.0000 (0.00%)
     

  • NASDAQ futures

    18,060.25
    +59.50 (+0.33%)
     

  • VOLATILITY

    13.77
    +0.28 (+2.07%)
     

  • FTSE

    8,213.49
    +41.34 (+0.51%)
     

  • NIKKEI 225

    38,236.07
    -38.03 (-0.10%)
     

  • CAD/EUR

    0.6782
    -0.0005 (-0.07%)
     

Mercedes denies report that it has discussed sale of van business

Reuters
Updated ·1 min read
FILE PHOTO: Frankfurt hosts the international Motor Show (IAA)

FRANKFURT (Reuters) - Mercedes-Benz denied a German media report that it was weighing a sale of its vans business as the automaker plans to put more strategic weight on high-end vehicles.

The weekly Manager Magazin on Thursday said a possible sale of the vans business - previously seen as sacrosanct - was being discussed as a measure of last resort, citing supervisory board sources.

"This is pure speculation which we expressly deny," a company spokesperson said when asked to respond to the report.

Mercedes-Benz said in May it would focus more narrowly on the luxury segment and cut out some entry-level models with lower margins, part of a plan to put 75% of investment into top-end vehicles and its highest-selling segment of C-Class and E-Class models. (This story corrects typo in headline)

(Reporting by Ilona Wissenbach and Ludwig Burger; Editing by Jon Boyle)