Daimler Truck sells out in 2022, keeps prices high

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2 年前

STORY: Daimler Truck will keep prices high even if certain costs start to fall.

The German firm said Thursday (August 11) this was to compensate for lower margins since last year.

It said energy prices and chip shortages will weigh in the second half of this year, though it believes some supply chain issues will ease.

The truck and bus maker is confident strong demand will allow it to keep passing rising energy costs onto customers.

Though it had said earlier this year that price hikes were out of necessity and would be reversed if raw material prices went back to pre-health crisis levels.

Daimler Truck reported a 15% rise in earnings before interest and taxes to just over $1 billion in the second quarter - way beyond analyst projections.

Adjusted returns were slightly down on last year though.

Its trucks are sold out in Europe and North America for 2022.

The company is now reallocating scarce chips from countries like Japan and India to serve orders in higher margin markets.