Mercedes-Benz on Wednesday said it took about a $420 million hit to its car division this year due to auto tariffs. The Wall Street Journal reported that the German automaker is looking at an approximately $1.7 billion decline for the year, based on estimates.

Benz will pause deliveries of its EQ electric range to the United States, the carmaker said on Wednesday as it responded to slowing demand and high inventories at dealerships. Since President Donald Trump's spending bill earlier this month cut tax EV credits sooner than anticipated,

Mercedes-Benz Group AG has stopped taking new orders for EVs in the US due to low customer demand. This comes after a 25% drop in sales.