Daimler Truck, soon to be freed from Daimler AG (OTC: DDAIF), reported improved sales and profits in the first quarter after enduring the beginning of the pandemic-induced shutdown of manufacturing a year ago.
The global shortage of semiconductor components used throughout vehicles could impact sales in the current quarter. But Daimler didn’t offer specifics. In North America, Daimler Trucks has protected larger, more profitable truck production by taking rolling downtime at medium-duty plants in North Carolina and Mexico.
Unit sales rose 4% in the Daimler Trucks & Buses division to 101,300 from 97,600 in the January-March period a year earlier. Revenue was 8.7 billion euros ($10.51 billion), flat compared to Q1 2020.
Truck sales rise
In trucks alone, unit sales increased by 6% to 97,600 vehicles compared to 92,500 a year ago.
Earnings before adjusted interest and taxes (EBIT) amounted to 518 million euros compared to 247 million euros a year ago. Adjusted return on sales was 6.1% compared to 2.8% in Q1 2020.
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Katherine
Something must done about this Asap