The shortage of semiconductors is putting the German auto industry under pressure.
(Photo: Reuters)
Frankfurt Despite the slump in sales due to the chip crisis, Daimler increased profits in the third quarter. The operating result adjusted for special effects climbed by four percent to 3.6 billion euros, as Daimler announced on Friday. The profit attributable to the shareholders was still generous at 2.47 billion euros.
Although sales of cars and trucks fell by 25 percent, sales from July to September of 40.1 billion euros were almost at the previous year’s level. “We are staying on course to achieve our goals for the year as a whole,” said CFO Harald Wilhelm. The operating profit “increased despite a challenging environment”.
The shortage of semiconductors as a result of the corona pandemic led to production breaks, which reduced supply. Mercedes-Benz Cars and Vans sold 471,404 vehicles, 30 percent less. The robust demand enabled the brand with the star to achieve “high price stability”.
Another profit maker is the new edition of the particularly profitable Mercedes S-Class luxury sedan. In addition, the group has reduced costs.
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More: Daimler is also preparing to split up the company in the executive suite