Home » Daimler, the chip crisis affects production, not profits

Daimler, the chip crisis affects production, not profits

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Daimler against the tide. As the competition loses its way with Q3 accounts, from Volkswagen to Stellantis, due to the chip crisis, prices and global logistics slowdowns, the house of the three-pointed star is also losing ground on the side of the units produced. (-25%) but holds the accounts brilliantly. It even improves profits, thanks to the cost cutting that is so difficult in Wolfsburg, headquarters of the Volkswagen group, and the focus on high-end models, from Maybach to Amg. In this way, the group led by Ola Källenius should reach the profit targets for 2021.

The German automaker said it expects an improvement in chip supplies in the fourth quarter and added that “the prevailing structural shortage of semiconductors should remain a problem in 2022, but should improve compared to 2021”. Opinions differ on this. According to a study by the Boston Consulting Group written by Il Sole 24 Ore, the emergency will continue throughout 2022 and demand could exceed supply by 15-20% exactly one year from now after an improvement in the first part of the ‘year.

The Stuttgart company reported a quarterly operating profit of 2.6 billion euros (3 billion dollars), up 18% compared to 2.2 billion euros in the same period of 2020. Analysts had expected a net profit quarterly of 2.3 billion euros, according to Refinitiv estimates. Revenues were almost stable at € 40.1 billion compared to € 40.3 billion in the third quarter of 2020.

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