Daimler Truck Holding is hopeful of moving past the prolonged chip shortage that has beset manufacturers globally, the head of the company’s Mercedes lorry brand said.
After months of factory outages due to component shortfalls, the order backlog is keeping factories busy even as the global economy shows signs of sputtering, said Karin Radstrom, who also leads the lorry maker’s business in Europe and South America.
The world’s biggest lorry maker has so far also evaded disruption from coronavirus lockdowns in China, she said.
“It’s better, it’s not perfect, but it’s better than last year,” Ms Radstrom said. “I try to not celebrate too early, we’re still monitoring the situation closely.”
Manufacturers like Daimler Truck — which also counts the Freightliner, Western Star and Fuso brands — and peer Volvo Group have had to curtail output as plants globally could not source enough of the high-tech components even as demand for transport boomed.
Ms Radstrom’s comments echo an assessment from Mercedes-Benz production chief Joerg Burzer this week. He said the chip shortage was no longer causing serious production stoppages.
A global shortage of lorries contributed to a jump in shipping rates as companies raced to restore depleted inventories.
While warnings over the health of the global economy are intensifying, Ms Radstrom said there were no signs yet of a slowdown in lorry manufacturing, typically a sector that is sensitive to downturns.
“There’s still very, very high demand relative to supply,” Ms Radstrom said. “Despite the changes in the economy, we don’t see any downturn in demand. It can change very quickly, however.”
Daimler Truck, which split from Mercedes last year, is working to improve margins after historically struggling to turn unrivalled industrial scale into returns matching those of Volvo and Paccar.
Meanwhile, electric vehicle specialists, including Tesla and Nikola, are plotting inroads into the trucking market amid the global crackdown on transport emissions.
Daimler Truck’s zero-emissions strategy focuses on developing battery-powered commercial vehicles for shorter journeys and hydrogen fuel-cell models for longer stretches.
The manufacturer last year started production of its electric vehicle eActros in Germany.
MATCH INFO
Norwich City 1 (Cantwell 75') Manchester United 2 (Aghalo 51' 118') After extra time.
Man of the match Harry Maguire (Manchester United)
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SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S24%20ULTRA
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Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
UAE currency: the story behind the money in your pockets
RECORD%20BREAKER
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Royal wedding inspired menu
Ginger, citrus and orange blossom iced tea
Avocado ranch dip with crudites
Cucumber, smoked salmon and cream cheese mini club sandwiches
Elderflower and lemon syllabub meringue
COMPANY%20PROFILE
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What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
SPECS
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How the UAE gratuity payment is calculated now
Employees leaving an organisation are entitled to an end-of-service gratuity after completing at least one year of service.
The tenure is calculated on the number of days worked and does not include lengthy leave periods, such as a sabbatical. If you have worked for a company between one and five years, you are paid 21 days of pay based on your final basic salary. After five years, however, you are entitled to 30 days of pay. The total lump sum you receive is based on the duration of your employment.
1. For those who have worked between one and five years, on a basic salary of Dh10,000 (calculation based on 30 days):
a. Dh10,000 ÷ 30 = Dh333.33. Your daily wage is Dh333.33
b. Dh333.33 x 21 = Dh7,000. So 21 days salary equates to Dh7,000 in gratuity entitlement for each year of service. Multiply this figure for every year of service up to five years.
2. For those who have worked more than five years
c. 333.33 x 30 = Dh10,000. So 30 days’ salary is Dh10,000 in gratuity entitlement for each year of service.
Note: The maximum figure cannot exceed two years total salary figure.
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
The%20specs
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UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
