BERLIN, (Reuters) – Daimler (OTC): Truck Chief Martin Daum believes that global chip shortages will affect revenues to the tune of several billions of euros in this year’s truck sales and expects them to continue into next year. Automobilwoche reported Sunday.

Daimler will spin off the world’s biggest commercial vehicle manufacturer on December 10. The company has proposed cost-cutting measures to increase profit margins in an environment of chip shortages that is affecting all sectors.

Daum stated that there will be significant financial losses.

Automobilwoche’s Daum said that “it is a tremendous sum”, and added that the company would only sell “mid five-digit” more vehicles than it should have.

Automobilwoche reported that the average vehicle price is 100,000 Euros ($113,170). This means many billions in lost revenue.

“We have many vehicles that we don’t know the part number of, so there are many parts in the factory.” Daum said that deliveries like these are priority as they are sold already.

Automobilwoche was also informed by him that there are supply issues likely to persist in 2022.

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