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

October 29, 2021by helo-10
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Daimler AG


LONDON:
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.

Also read:

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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