BERLIN—Daimler Truck expects high raw material prices to drive price increases this year but limited impact from events in Ukraine, the German truck and bus maker said on Thursday. Unlike competitors, including Traton’s MAN, it does not source wire harnesses from Ukraine, CEO Martin Daum said, while finance chief Jochen Goetz said Russia and Ukraine accounted for just 1 percent of the firm’s sales. Semiconductor supply will weigh on results particularly in the first quarter, Daum said, with the company sitting on high inventories of unfinished vehicles as it waits for semiconductors to arrive. “When suppliers suddenly cut [their offer] by half nearly overnight, that is an unbearable situation,” Daum said. “We’ve had to fly in parts by helicopter, which in my entire long career in trucking was unheard of.” Asked about its cooperation with Russian truckmaker Kamaz, which was frozen in late February, Daum said it was not supplying …
Daimler Truck Sees Rising Prices in 2022, Little Impact From Ukraine
March 25, 2022
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