Mercedes-Benz and its Chinese joint venture with BAIC Motor will recall a total of 523,094 imported and domestically manufactured vehicles in China over potential safety hazards, China's market regulator said on Friday.

Mercedes-Benz Group shares fell 8% on Friday after the German carmaker made another cut to its full-year guidance, citing a slowdown in car sales caused by a slump in China’s economy.

Mercedes-Benz Group lowered its full-year outlook, a move it said was triggered by the further deterioration of the macroeconomic environment, specifically in China.The German luxury car brand on Thursday said its cars unit is now expected to post an adjusted return on sales between 7.

Chinese automaker BYD Co. has moved to fully control a joint venture it had in China with Mercedes-Benz Group AG, as an increasing number of foreign carmakers dial back their exposure to the world’s biggest auto market.

German auto giant Mercedes-Benz is recalling more than half a million cars in China due to a technical defect. The Chinese market regulation authority said on Friday that the company has presented a recall plan which is due to take effect from November 27.

Mercedes-Benz has announced a major recall in China affecting over 500,000 vehicles due to a technical fault. Begins November 27. The issue stems from a defective wheel speed sens

Mercedes-Benz Group AG cut its financial forecast due to a rapid deterioration of its business in China, marking the latest blow to Germany’s struggling industrial sector.