STUTTGART (dpa-AFX) – Daimler Trucks are struggling with rising costs for raw materials and energy. That’s why the truck and bus manufacturer is increasing prices, said CFO Jochen Goetz on Wednesday at the online general meeting in Stuttgart. “We expect continued headwinds for the full year 2022.”
Irrespective of economic worries and the Ukraine war, the truck manufacturer is sticking to its goal of increasing its sales to up to 50 billion euros in the current year. Last year it was around 40 billion euros. The global order situation for trucks is excellent, said CEO Martin Daum at the shareholders’ meeting.
As a consequence of a permanent shortage, the number of chips in the trucks is reduced. Other suppliers for these electronic components also come into play, as Goetz explained. “The disruptions in the supply chains, especially in semiconductors, are weighing on our business.”
The situation with chips should improve in the second half of the year, Goetz said after questions from shareholders. The bottleneck affects the entire industry and in the past had also caused Daimler Trucks to stockpile production because components were missing.
Daum said that production at the large truck plant in Wörth in the southern Palatinate was on hold for a few days last year due to the bottleneck. Production in the factory, which employs around 10,000 people, is currently running according to plan.
The now independent manufacturer held its first public general meeting. Last December, the then Daimler Group, which now operates under the name of Mercedes-Benz (Mercedes-Benz Group (ex-Daimler)), spun off its large commercial vehicle business. Daimler Truck, with around 100,000 employees worldwide, is one of the largest manufacturers of trucks and buses./cb/DP/ngu
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