Mercedes to Challenge UK’s £7.5 Billion Motor Finance Plan

Mercedes-Benz Group AG’s financial services unit filed an appeal challenging the UK’s £7.5 billion plan to compensate customers who were overcharged for auto loans.

The German carmaker, which allocated €422 million ($494 million) for compensating customers for missold car loans, said it had filed the lawsuit at the Upper Tribunal in London against the Financial Conduct Authority’s proposed redress plan.