German automaker Daimler AG expects its 2021 sales, revenue, and EBIT to be “significantly higher” than the past year as COVID-19 vaccinations increase. It expects global economies to recover strongly, provided there are no more pandemic-related shutdowns.
Daimler had earlier reported that it plans to separate its truck and car businesses, forming Daimler Trucks and renaming the current company to Mercedes Benz, the latter of which will focus on luxury electric vehicles in the future.
Acknowledging the production setback caused by the semiconductor shortage in Q1 2021, the company said it intends to make up for the lost output through the rest of this year.
During 2020, Mercedes-Benz car sales fell by 13pc to 2.08 million units, compared with 2.38 million vehicles in 2019. The brand’s van sales also declined by 15pc to 374,600 units in the same period under comparison.
Mercedes’ revenue slipped to €98.6bn ($119.22bn) in 2020 from €106.9bn in 2019. The company’s EBIT, however, surged to €5bn in 2020, compared with an EBIT loss of €109mn in 2019.
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