Shares of major German automakers fell on Monday after U.S. President Donald Trump announced a sharp increase in tariffs on car imports, raising duties to 25% from a previously agreed 15%.

Mercedes-Benz Group has joined a growing list of challengers to a multibillion-dollar UK compensation scheme designed to address the mis-selling of motor finance loans.

In a move that signals a significant shift in the competitive landscape of the world’s largest electric vehicle market, the Chinese automaker Seres has officially joined the high-power charging joint venture established by BMW and Mercedes-Benz.

Chinese automaker Seres has announced it will become an equal shareholder in a fast-charging joint venture backed by BMW and Mercedes-Benz in China, the company said on Friday.

Sales of imported cars in South Korea posted strong double-digit growth last month, driven by rising demand for electric vehicles and German luxury brands, industry data showed Friday.

Mercedes-Benz has moved up its goal to cut costs by €5 billion ($5.9 billion) to the end of 2026, ahead of the previously planned 2027 target.

Mercedes-Benz CEO Ola Källenius has sought to ease growing concerns over chip shortages, stating that the German carmaker is "covered for now" when it comes to securing the essential components.

German premium carmaker Mercedes-Benz reported a sharp decline in third-quarter profit on Wednesday, weighed down by weak sales in China and U.S. tariffs.