Daimler downgraded sales forecast due to lack of microcircuits

UNITED STATES, WASHINGTON (EDUFINTECH) – A global semiconductor chip shortage will hit car sales in the second half of 2021, German automaker Daimler AG said. At the same time, the company maintained its annual profit margin forecast.

Daimler is among the largest automakers to have cut production this year due to chip shortages caused by the coronavirus pandemic.

At the same time, demand for cars rose sharply against the backdrop of renewed economic activity.

Sales of Mercedes-Benz cars jumped 27% in the second quarter, while in Europe, Daimler’s second market after China, by 54%.

The company expects annual car sales to remain at the 2020 level. The German automaker had previously predicted that sales this year would be well above last year’s.

The company on Wednesday confirmed that the group’s adjusted earnings before interest and taxes (EBIT) in the second quarter were 5.42 billion euros ($ 6.38 billion).

Daimler released preliminary quarterly results last week.

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