We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mercedes (MBGAF) Recalls 116k Vehicles Due to Risk of Fire
Read MoreHide Full Article
Mercedes-Benz Group AG (MBGAF - Free Report) is recalling around 116,000 vehicles because of a loose 48-volt ground connection beneath the front passenger seat, which increases the risk of fire due to potential overheating.
Per the National High Traffic Safety Administration (“NHTSA”) filing, Mercedes-AMG GLE53 and GLE63 from model year 2021-2024, GLS63 from model year 2021-2023, Mercedes-Benz GLE350 from model year 2023-2024 and GLE450 from model year 2020-2024 will be affected by the recall.
Other vehicles that are included in the recall, according to NHTSA, are Mercedes-Benz GLE580 from model year 2020-2023, GLS450 from model year 2019-2023, GLS580 from model year 2020-2023 and the Mercedes-Maybach GLS600 from model year 2021-2023.
MBGAF has not received any reports of crashes or injuries related to the defect. The automaker will start notifying customers on May 14, 2024.
Per the automaker, mechanical work in the vicinity of the manufacturing process could have caused loose wiring. However, the automaker has been unable to establish a definitive link to this effect. Mercedes estimates that 100% of the vehicles covered in the recall may be affected by the loose connection issue.
Per the recall document, drivers will not receive any alert from the vehicle unless the connection has already become loose. In such instances, the vehicle might display an alert in the instrument cluster concerning the 48-volt power supply.
The owners of the vehicles can take the affected vehicle to a dealership, where the dealer will inspect and tighten the wiring for free.
Last month, the automaker recalled more than 105,000 GLE and GLS vehicles due to defective transmission. In the same month, it recalled around 32,000 vehicles with defective fuses. The German automaker recently recalled another 250,000 vehicles with defective fuses.
Per NHTSA, MBGAF recalled 478,175 vehicles last year in the United States. It recalled more than 23.7 million vehicles in total from all the manufacturers.
The Zacks Consensus Estimate for MOD’s 2024 sales and earnings per share (EPS) suggests year-over-year growth of 4.3% and 67.7%, respectively. The EPS estimates for 2024 have moved up by a penny in the past seven days. The EPS estimates for 2025 have improved 12 cents in the past 30 days.
The Zacks Consensus Estimate for TM’s 2024 sales and earnings suggests year-over-year growth of 10% and 73.6%, respectively. The EPS estimates for 2024 and 2025 have improved $1.30 and $1.01, respectively, in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2024 sales and earnings suggests year-over-year growth of 2.1% and 3.2%, respectively. The EPS estimates for 2024 and 2025 have improved 13 cents and 29 cents, respectively, in the past 30 days.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Mercedes (MBGAF) Recalls 116k Vehicles Due to Risk of Fire
Mercedes-Benz Group AG (MBGAF - Free Report) is recalling around 116,000 vehicles because of a loose 48-volt ground connection beneath the front passenger seat, which increases the risk of fire due to potential overheating.
Per the National High Traffic Safety Administration (“NHTSA”) filing, Mercedes-AMG GLE53 and GLE63 from model year 2021-2024, GLS63 from model year 2021-2023, Mercedes-Benz GLE350 from model year 2023-2024 and GLE450 from model year 2020-2024 will be affected by the recall.
Other vehicles that are included in the recall, according to NHTSA, are Mercedes-Benz GLE580 from model year 2020-2023, GLS450 from model year 2019-2023, GLS580 from model year 2020-2023 and the Mercedes-Maybach GLS600 from model year 2021-2023.
MBGAF has not received any reports of crashes or injuries related to the defect. The automaker will start notifying customers on May 14, 2024.
Per the automaker, mechanical work in the vicinity of the manufacturing process could have caused loose wiring. However, the automaker has been unable to establish a definitive link to this effect. Mercedes estimates that 100% of the vehicles covered in the recall may be affected by the loose connection issue.
Per the recall document, drivers will not receive any alert from the vehicle unless the connection has already become loose. In such instances, the vehicle might display an alert in the instrument cluster concerning the 48-volt power supply.
The owners of the vehicles can take the affected vehicle to a dealership, where the dealer will inspect and tighten the wiring for free.
Last month, the automaker recalled more than 105,000 GLE and GLS vehicles due to defective transmission. In the same month, it recalled around 32,000 vehicles with defective fuses. The German automaker recently recalled another 250,000 vehicles with defective fuses.
Per NHTSA, MBGAF recalled 478,175 vehicles last year in the United States. It recalled more than 23.7 million vehicles in total from all the manufacturers.
Zacks Rank & Key Picks
MBGAF currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the auto space are Modine Manufacturing Company (MOD - Free Report) , Toyota Motor Corporation (TM - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MOD’s 2024 sales and earnings per share (EPS) suggests year-over-year growth of 4.3% and 67.7%, respectively. The EPS estimates for 2024 have moved up by a penny in the past seven days. The EPS estimates for 2025 have improved 12 cents in the past 30 days.
The Zacks Consensus Estimate for TM’s 2024 sales and earnings suggests year-over-year growth of 10% and 73.6%, respectively. The EPS estimates for 2024 and 2025 have improved $1.30 and $1.01, respectively, in the past 30 days.
The Zacks Consensus Estimate for ALSN’s 2024 sales and earnings suggests year-over-year growth of 2.1% and 3.2%, respectively. The EPS estimates for 2024 and 2025 have improved 13 cents and 29 cents, respectively, in the past 30 days.