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Daimler Truck Head Sees Signs Of Chip Crisis Recovery

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  • 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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