drone pilot industryDaimler Q3 posts higher profit despite chip shortage, Auto News, ET Auto

October 29, 2021by helo-10

Daimler AG

Daimler AG on Friday reported a higher quarterly net profit despite a global semiconductor chip shortage that has pummeled the auto industry, as it focused on higher-margin cars and cost cutting.

The German premium carmaker posted a quarterly operating profit of 2.6 billion euros ($3 billion), up 18% from 2.2 billion euros for the same period in 2020. The company’s revenue was almost flat at 40.1 billion euros versus 40.3 billion in the third quarter of 2020.

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Kaellenius, who is visiting Mercedes operations in the United States, said production of Mercedes vehicles during the fourth quarter will be lower than a year ago, which was an unusually strong quarter as the company began recovering from pandemic shutdowns.

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