Daimler posts 3.70-bln-euro net profit in Q2

Xinhua
21 Jul 2021, 18:14 GMT+10

With 199,200 vehicles sold, the Mercedes-Benz Cars subsidiary set a new sales record for a second quarter in China, its largest sales market, the company noted.

BERLIN, July 21 (Xinhua) -- Daimler posted a net profit of 3.70 billion euros (4.35 billion U.S. dollars) in the second quarter (Q2) of this year, after reporting losses of 1.91 billion euros in Q2 last year, the German carmaker announced on Wednesday.

Revenues in Q2 increased by 44 percent year-on-year and reached 43.5 billion euros, according to Daimler.

Despite ongoing semiconductor shortage, the company "demonstrated the resilience of our business," said Ola Kaellenius, chairman of the Board of Management of Daimler and Mercedes-Benz. "We are doing what we can to minimize the impact," he added.

With 199,200 vehicles sold, the Mercedes-Benz Cars subsidiary set a new sales record for a second quarter in China, its largest sales market, the company noted.

Mercedes-Benz Cars sold a total of around 521,200 vehicles worldwide, 27 percent more than in Q2 last year, according to Daimler.

At the same time, total sales of the parent company Daimler increased by 36 percent year-on-year to around 736,400 vehicles.

Daimler expects its business to be further impacted by the worldwide semiconductor bottlenecks. The company lowered its annual sales forecast for its flagship brand to last year's level, while Q3 sales could be "in the magnitude of the second quarter or below." (1 euro = 1.18 U.S. dollars)

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