Daimler says chip shortage could hurt 2021 sales By Reuters

© Reuters. FILE PHOTO: A Mercedes-Benz Vision AVTR concept vehicle is shown on a media day for Auto Shanghai in Shanghai, China April 19, 2021. REUTERS / Aly Song

LONDON (Reuters) – A global shortage of semiconductor chips will reduce car sales in the second half of 2021, according to automaker Mercedes-Benz Daimler AG (DE 🙂 said Wednesday, but left its profit margin outlook for the year unchanged.

Daimler (OTC 🙂 is among the major automakers that have had to cut production this year due to the shortage caused by the coronavirus pandemic.

The shortage comes as demand for cars has increased as the global economy recovers from the ravages of COVID-19, pushing up prices for new and used vehicles as inventories decline.

Second-quarter Mercedes-Benz car sales jumped 27%, with a 54% jump in Europe, Daimler’s second-largest market after China.

The company said it now expects full-year car sales to be in line with 2020 levels. Earlier, the German automaker said it expects unit sales to be in line with 2020 levels. cars this year are significantly higher than last year.

The company also confirmed on Wednesday that the group’s adjusted second-quarter profit before interest and taxes (EBIT) was 5.42 billion euros ($ 6.38 billion), with the auto and truck divisions exceeding analysts’ targets. .

Daimler released preliminary results last week.

($ 1 = € 0.8495)

Warning: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. Therefore, the prices may not be exact and may differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.

About Arla Lacy

Check Also

After iPhones, Google Pixel phones made in India now?

Google reportedly plans to manufacture Pixel phones in India. According to The Information (via TechCrunch), …