Daimler Truck Head Sees Signs Of Chip Crisis Recovery

Author: Anusuya Lahiri | June 02, 2022 12:31pm

Daimler Truck Holding AG (OTC:DTRUY) head Karin Radstrom, in an interview with Bloomberg, acknowledged seeing chip crisis recovery signs. Her comments mirrored with Mercedes Benz Group AG (OTC:DMLRY) production chief Joerg Burzer's recent similar assessment.
Radstrom added that the factories are busy with backlog orders after months of outages due to chip component shortfalls.
The order backlog comes at a time of weakness in the global economy.
Radstrom also said there is positive momentum in truck manufacturing amid growing weakness in the global economy, despite being a highly cyclical sector.
Also Read: Semiconductor Chip Crisis To Cost $210B In Auto Revenue Loss
Daimler also successfully manage to dodge disruption from China's Covid lockdowns.
Daimler Truck had to slash output despite booming demand for transport due to the global crisis.
Previously, the U.S. government sought more supply chain transparency from the semiconductor companies to counter the global chip crisis.
The semiconductor crisis has forced auto companies like Ford Motor (NYSE: F) and General Motors (NYSE:GM) to opt for production cuts as chipmakers were lured by the Covid-19 pandemic fueled demand for smartphones and computers.
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