Daimler AG (DDAIF - Free Report) has been ordered by the road vehicle authority of Germany to recall models of its Mercedes-Benz Vito delivery van. According to the regulator, the specific vehicle engine’s diesel emission control features do not fulfill the legal requirements. The affected vehicles include Vito models, having 1.6-liter diesel engines of Euro 6 standard.
The Stuttgart, Germany-based auto giant has differed with the regulator’s assessment and revealed its intention to appeal against the decision. However, the company is cooperating with the regulator. It has informed that the vehicle owners would be notified about a free software, once it is available.
Notably, in February, the Transport Ministry of Germany started an inquiry into the alleged use of illegal defeat devices in about 1,000 Mercedes-Benz Vito vehicles.
Over the past year, shares of this company have underperformed the industry it belongs to. The stock has risen 5.7% against the industry’s increase of 18.3%.
Currently, Daimler carries a Zacks Rank # 2 (Buy). The company has an expected long-term growth rate of 4.97%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few other top-ranked stocks in the auto space are Oshkosh Corporation (OSK - Free Report) , Ferrari N.V. (RACE - Free Report) and Gentex Corporation (GNTX - Free Report) . While Oshkosh and Ferrari sport a Zacks Rank #1, Gentex carries a Zacks Rank #2.
Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 20.9% over the past year.
Ferrari has an expected long-term growth rate of 17.3%. Over the past year, shares of the company have gained 53.7%.
Gentex has an expected long-term growth rate of 13%. In a year’s time, shares of the company have gained 26.6%.
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