Daimler warns chip shortage will wipe out first half sales boost
Mercedes owner Daimler today warned that the global shortage of semiconductor chips would wipe out its impressive first half performance.
In a statement announcing today’s second quarter results, the car giant said that sales would now be flat on 2020, rather than up as previously forecast.
The German firm added that the supply crisis would last into 2022, but would be less severe next year.
“The entire industry is currently struggling with longer delivery times, which unfortunately also affect our customers”, said chief executive Ola Kallenius: “We are doing what we can to minimise the impact.”
Despite the dearth, Daimler beat analyst expectations for the second period, with sales up 44 per cent on the last time round to €43.5bn.
Net profit hit €3.7bn, reversing the €1.9bn loss a year ago.
The semiconductor shortage has wreaked havoc among carmakers throughout 2021, with most marques forced to curb production.
After a plunge in demand for cars last year during the early stages of the pandemic, it has come roaring back this year, leading to a shortfall of the crucial chips.
Yesterday BMW said that it was unable to complete 10,000 vehicles due to the supply crisis. In total, it has lost production of 30,000 vehicles so far this year.