Mercedes-Benz: Supply constraints are hurting sales of high-end battery-electric vehicles –CFO

Mercedes-Benz said on Wednesday, when it released its third quarter results, that it expects sales of high-end cars to go up by a few percentage points and that production bottlenecks have slowed down production of battery-electric cars this year.

In July, the car company said it thought sales of high-end cars would grow by 10%.

Related: Mercedes-Benz and Microsoft are working together on a data platform for the supply chain. 

On an analyst call, the company’s chief financial officer, Harald Wilhelm, said that it did not have as many unfinished products as it did at the height of the semiconductor shortage. However, inventories were still high because finished products had not yet been delivered.

Wilhelm said that pent-up demand in Europe and a high order backlog would keep the carmaker busy into next year. He also said that in the fourth quarter, the company would focus on getting rid of its stock.

(The headline of this story has been changed to say “electric battery sales” instead of “battery sales.”)