Exxon-Mobil reported bumper profits last quarter, despite falling gas prices. What contributed to the record? You can now add horsepower to an EV Mercedes, but at a cost. The IRS commissioner confirmed the agency is hiring armed tax agents nationwide as part of President Joe Biden’s push to shore up enforcement. But the IRS says…

LONDON—Mercedes will work flat out over Formula One’s April break to give Lewis Hamilton and George Russell a more balanced car, with improved suspension, technical head James Allison said on Thursday. The sport has a big gap in the calendar, due to the cancellation of the Chinese Grand Prix, until racing resumes in Azerbaijan on…

Lewis Hamilton said Thursday his Mercedes team is so far off the pace at the start of the Formula One season that the seven-time champion needs three teams to fall out of a race just for him to have a chance to win. Red Bull dominated the season-opener in Bahrain two weeks ago with a…

LONDON—Seven times world champion Lewis Hamilton has said his Mercedes team did not listen to him in developing their 2023 Formula One car. The Briton told reporters last week that Mercedes were on the wrong track before he finished fifth in Sunday’s Bahrain Grand Prix opener. “Last year, there were things I told them. I…

BERLIN—Mercedes Benz said on Thursday it plans to buy back up to 4 billion euros ($4.28 billion) of its shares over two years from March 2023. Shareholders Beijing Automotive Group and Geely had agreed to divest their shares on a pro-rata basis concurrently with the share buyback to keep their stakes in the company below…

MOSCOW—Russian President Vladimir Putin on Monday approved the sale of Mercedes-Benz’s local financial services division to Russian car dealer Avtodom, nudging the German automaker closer towards fully offloading its Russian assets. Mercedes-Benz suspended production at its factory in Russia and halted exports to the country last March, and said in October it would fully quit…

DETROIT—Mercedes is recalling nearly 324,000 vehicles in the U.S. because the engines can stall while they’re being driven. The recall covers a range of models from the 2012 to 2020 model years including the ML550, ML350, AMG ML63, ML250, ML400, GLE450, GLE300, GLE350, GLE550, GLE400, AMG GLE43, and AMG GLE63. The National Highway Traffic Safety…

BERLIN—Mercedes-Benz raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15 percent this year, compared with a previous forecast of 5 percent–15 percent…

BERLIN—Mercedes-Benz sales fell sharply in the second quarter, hampered by supply problems and coronavirus-related lockdowns in China, the German carmaker said on Monday. The automaker delivered 490,000 passenger cars from April to June, down 16 percent from the same period last year, it said. For the first half of 2022, its Cars division saw a…

DETROIT—Mercedes-Benz is telling the owners of more than 292,000 vehicles in the U.S. to stop driving them due to a problem that could cause the brakes to fail. The German automaker is recalling the vehicles and says it will offer free towing so the owners can get them to a dealership for service. The recall…