On Friday, Daimler Truck (OTC:DDAIF) reported a 27 per cent leap in Q3 unit sales to nearly 135,000 as the chip shortage eased. However, it warned underinvestment in other parts of the supply chain has been causing shortages of everything from nuts and bolts to tyres.

Of the 25 types of chips Daimler Truck needed, some are now back in the market. For others, the company has found alternatives. However, some chips would remain hard to get throughout 2023.

Earlier in October, Daimler raised its outlook for full-year revenues to 50- 52 billion euros (USD 51 billion to USD 53 billion) from 48 – 50 billion euros. The company expected earnings to be 5- 15 per cent above last year’s level.

The increase in earnings was reported to be most elevated in Europe at 316 per cent from the three months last year, compared with 111 per cent in North America. North America is believed to be Daimler Truck’s most substantial market.

Incoming orders were lower than 18 per cent a year before in the quarter that ended September 30 and down 14 per cent this year.

Elevated pricing, a solid after-sale business and favourable exchange rate effects drove revenues up 47 per cent and adjusted earnings before interest and taxes up 159 per cent.

It is to be noted that Daimler was spun off from Mercedes-Benz last year.