Daimler raises outlook, says chip scarcity could impression Q2 gross sales By Reuters

3/3 © Reuters. Auto Shanghai present in Shanghai 2/3 LONDON (Reuters) – Mercedes-Benz automotive maker Daimler AG (DE:) on Friday raised its revenue outlook for 2021, however warned that the worldwide semiconductor chip scarcity could proceed to impression its gross sales within the second quarter. Daimler (OTC:) stated that though “visibility is restricted at current”,


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© Reuters. Auto Shanghai present in Shanghai

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LONDON (Reuters) – Mercedes-Benz automotive maker Daimler AG (DE:) on Friday raised its revenue outlook for 2021, however warned that the worldwide semiconductor chip scarcity could proceed to impression its gross sales within the second quarter.

Daimler (OTC:) stated that though “visibility is restricted at current”, it assumes “some restoration” within the availability of chips within the second half of this 12 months.

However the German carmaker stated it nonetheless expects its working revenue this 12 months to be considerably above 2020 as the worldwide economic system recovers from the ravages of the coronavirus pandemic.

The chip scarcity has curtailed manufacturing for numerous main automakers, together with Common Motors Co (NYSE:), Stellantis, Ford Motor (NYSE:) Co and Daimler’s German rival Volkswagen AG (OTC:).

Earlier this week, Daimler reduce working hours for as much as 18,500 staff and stated it will briefly halt manufacturing at two crops in Germany as a result of chip scarcity.

Vehicles have turn into more and more depending on chips – for the whole lot from pc administration of engines for higher gasoline economic system to driver-assistance options akin to emergency braking.

Daimler stated it now anticipated an adjusted margin from its Mercedes vehicles and van enterprise of between 10% and 12%, up from its earlier outlook of between 8% and 10%.

Final week, Daimler stated that hovering Chinese language demand for luxurious Mercedes-Benz vehicles and better costs drove a better-than-expected revenue within the first quarter.

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