Published 3 years ago

Daimler: $4.3 billion quarterly profit despite chip shortage

Summary by Ground News

German auto maker Daimler reaped strong profits in the second quarter. Demand for its Mercedes luxury cars continued to rebound from the depths of the pandemic. Profit margins reached into double digits for the third quarter in a row. That helped boost the company's cash pile to 20.9 billion euros ($24.6 billion)

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Associated Press News

Daimler: $4.3 billion quarterly profit despite chip shortage

3 years ago·United States

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abc News

Daimler: $4.3 billion quarterly profit despite chip shortage

Luxury cars are good business even during the pandemic

3 years ago·United States

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OAN

Daimler sees chip shortage dragging on into 2022

July 21, 2021By Nick CareyLONDON (Reuters) -A global shortage of semiconductor chips will dent car sales in the second half of 2021 and will extend into 2022, Daimler AG said on Wednesday, but the maker of Mercedes-Benz vehicles left unchanged its profit margin outlook for this year.Along with other carmakers, Daimler cut back production this year because of a chip shortage during the coronavirus pandemic, prompting the German company to focus o…

3 years ago·San Diego, United States

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MY Northwest

Daimler: $4.3 billion quarterly profit despite chip shortage

FRANKFURT, Germany (AP) — German auto maker Daimler reaped strong profits in the second quarter as demand for its Mercedes luxury cars continued to rebound from the depths of the pandemic, generating cash that the company can invest in its shift to electric vehicles. Profit margins reached into double digits for the third quarter in a row at 12.8% thanks to rising sales numbers and vehicles carrying higher profits dominating the sales mix, the S…

3 years ago·Tacoma, United States

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WPLG

Daimler: $4.3 billion quarterly profit despite chip shortage

German auto maker Daimler reaped strong profits in the second quarter as demand for its Mercedes luxury cars continued to rebound from the depths of the pandemic, generating cash that the company can invest in its shift to electric vehicles. Profit margins reached into double digits for the third quarter in a row at 12.8% thanks to rising sales numbers and vehicles carrying higher profits dominating the sales mix, the Stuttgart-based company sai…

3 years ago·Miami, United States

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