Daimler sees chip shortage extending into 2022

Daimler has warned that a global shortage of computer chips will hurt car sales in the second half of this year.

Chief Financial Officer Harald Wilhelm told investors Wednesday (July 21) the silicon drought would last into 2022, but would be less severe than this year.

The Mercedes-Benz maker said its visibility into how chip supply would develop was currently low.

Though its chief executive called the issue a 'fixable problem'.

The chip shortage comes as demand for cars rises during the global economy's recovery from the health crisis.

Merecedes-Benz car sales jumped 27% in the second quarter - with a more than 50% rise in Europe.

Buyers in the automaker's largest market, China, weren't so keen in Q2 though, with just a small rise in sales there.

Daimler said it expected full-year car sales to be in line with 2020 levels.

It had previously forecast unit sales would be significantly above last year's.

Despite that, the German company left its profit margin outlook unchanged for this year.

Daimler shares were down close to 2% in early trade.

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