Daimler AG plans to withdraw its securities from the New York Stock Exchange and consolidate the trading of its stock on the Frankfurt and Stuttgart exchanges, a move meant to save money as trading volumes in the U.S. have dwindled.

Today’s electronic trading also puts the world’s exchanges at investors’ finger tips, further lessening the need for many companies to list on multiple exchanges around the world.

Daimler says in a statement today its trading activity in the U.S. over the last 12 months has amounted to an average “well below 5% of the worldwide trading volume.”

Last month, for example, the auto maker’s trading volume on April 5 fell as low as 285,000 shares. For comparison, shares of Ford Motor Co. often trade at volumes of more than 200 million.

Delisting also allows Daimler to cease reporting financial results to the U.S. Securities and Exchange Commission, which would save money on related fees and expenses. The auto maker already files a quarterly report with the German financial authority, an equivalent of the SEC.

The decision also would suspend trading of Daimler’s 8.5% notes due Jan. 18, 2031.

Daimler reiterates plans to maintain fulfilling the needs of its international investors, as well as its commitment to the North American market, which last year accounted for 25% of its worldwide revenue and where one in every 10 of its employees work.

The auto maker offers no timetable for its action, indicating it will file for delisting and deregistration with the SEC in the near future.

Investors took the news lightly, with shares of Daimler on the NYSE trading earlier today between $50.50 and $51.43. The auto maker’s shares began trading on the NYSE Oct. 5, 1993.