Daimler AG’s (OTCMKTS:DDAIF) Total Mercedes-Benz Cars & Vans sold globally declined from 2.82 million in 2019 to 2.46 million in 2020. Trefis expects the number to increase marginally to 2.52 million in 2021 and to about 2.6 million in 2022.
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Sales over 2020 dipped due to the Covid-19 pandemic and related economic headwinds. Although we expect deliveries to recover in 2021 and 2022, they could be limited by the ongoing semiconductor shortage.
We don’t think the projected recovery is priced into DDAIF stock yet. We value the stock at about $100 per share, about 10% ahead of the current market price.