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The Mercedes-Benz Group finished 2021 on a high note, reporting high profit margins while racking up $158 billion in revenue. But it saw sales drop 16% in the second quarter of 2022, and the firm’s stock fell nearly 40% in the first half of the year. One reason for the decline is the semiconductor shortage afflicting the entire auto industry; slowed production owing to pandemic lockdowns has also been a factor. On the sustainability front, CEO Ola Källenius has outlined the group’s plan to increase its share of EVs to account for half of its auto sales by 2025; the company hopes to be fully electric in the next decade.
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