Mercedes-Benz parent company Daimler is counting on an improvement in the chip shortage situation in the current period compared to the third quarter. It also expects to record its highest profit in years this year.
Daimler sold a total of 577,800 vehicles in July, August and September. That is a quarter less compared to the same period last year and is a result of chip shortages and ongoing disruptions in the logistics chain, the company says. At the bottom of the line, the group recorded a profit of almost €2.6 billion. That is slightly higher than in the same period last year.
Nevertheless, the car group expects an operating profit of between 10 and 12 percent this financial year, the highest in years. “We remain on track with our full-year targets on the back of a strong business,” Chief Financial Officer Harald Wilhelm said at the presentation of the quarterly results. The group’s earnings before interest and taxes will be “significantly higher” than last year, the company said.
Due to shortages of computer chips, many car manufacturers have had to regularly shut down production in recent months. Like other automakers, Daimler has pushed forward production of more profitable models due to chip shortages. Other manufacturers such as General Motors, Volkswagen and Volvo recently spoke more positively about the future. They think the peak of chip shortages is over. At Ford, they are even noticing that deliveries are starting to increase.
– Thanks for information from Autoweek.nl