© Reuters FILE PHOTO: Martin Damm, head of Daimler Trucks and Buses brands, during the annual results press conference in Stuttgart, Germany, February 11, 2020. REUTERS/Andreas Gebert
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HANOVER, Germany (Reuters) – Daimler (OTC: ) truck deliveries could have risen fivefold in 2021 and 2022 if it had not faced supply chain problems, CEO Martin Damm told Reuters.
Daum said in an interview at the IAA (NYSE: ) Hanover Transportation Conference on Monday that he sees no sign of demand in the truck market and that order books are filling up as soon as they open.
This demand has allowed the truck and bus maker to pass on its higher costs, allowing it to save 7-9% of the target range if it was hit during the pandemic.
The company It sold 120,961 units in the second quarter of 2022, up 4 percent from the same period last year.
Daimler Trucks aims for up to 60% of its sales to be electric or hydrogen fueled vehicles by 2030, Daimler said after the company introduced its first heavy-duty electric car with a range of up to 500 kilometers fueled by LFP batteries.
Daum said Europe, particularly Germany, was late in building battery production, with most still coming from Asia.
“Germany has a clear competitive disadvantage in terms of energy prices,” he said, noting that the dispute over gas supplies between Germany and Russia has resulted in high energy prices in the German market.
That could hold back the country’s interest in making batteries, a highly energy-intensive process, Daum said.