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Daimler Truck Head Sees Signs Of Chip Crisis Recovery

  • 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.
  • Photo via Wikimedia Commons

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