Strong demand for cars in Europe, the U.S., and China with an increasing backlog led to a strong performance, according to Chairman Ola Källenius who joined CNBC’s Squawk Box Europe to discuss the company’s performance. Asked about the chip-shortage evolution over time, Källenius added:
Investments in the future
Supply constraints and slowing consumer demand could be troubling for the auto sector; however, pent-up demand may also be a factor for car purchases. Covid lockdowns, and now supply chain issues are pressuring sales, but Mercedes’s recent investment in the production of an electric truck, the eEconic, could be pointing to an electric vehicle (EV) future for the German auto behemoth. Equally important, the strong quarterly results, high demand, and over €1.4 billion (~$1.42 billion) cash on hand could make Mercedes stock a worthwhile buy, hoping that the stock may turnaround if supply chain issues get resolved. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
