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About
History
Competitors
About
History
Competitors
Daimler AG is now known as the Mercedes-Benz Group AG. Daimler-Benz was founded in 1926 following a merger between Benz & Cie and Daimler Motoren Gesellschaft. It has since been one of Europe’s most prestigious automobile manufacturers. It is the parent group of the Mercedes-Benz brand, which has become one of the most important performance car models in the 20th and 21st centuries.
The parent group has undergone a change of name on multiple occasions, becoming DaimlerChrysler in 1998 and later Daimler AG in 2007. The 1998 move to DaimlerChrysler followed a ground-breaking merger between the German and US vehicle manufacturers following an exchange of shares.
In early 2022, Daimler CEO, Ola Kallenius, announced the company would be rebranding to Mercedes-Benz by the end of the year as it seeks a greater valuation based on a renewed focus on the electric vehicle (EV) marketplace.
The Daimler share price has fluctuated considerably since the turn of the new millennium. Having reached all-time highs of €84.51 in 1998, Daimler stock proceeded to fall in 2000, before bottoming out at €25.33 in September 2001.
Daimler appeared to enjoy a fruitful two-year period between 2005-07 prior to the global financial crash. The Daimler share price rose from €26.40 in May 2005 to a high of €64.37 in October 2007. The global recession saw Daimler shares reach new lows of €15.54 in March 2009 before a strong recovery to €78 by March 2015.
The arrival of the Covid-19 pandemic caused great uncertainty to the automotive industry, as production ceased overnight, causing Daimler shares to fall to €21.50 in March 2020. However, the news of the rebrand and a renewed focus on EVs has seen it recover to €61.35 by the end of 2022.
There are several companies that compare with Daimler. Volvo Group is a major player in the European automotive industry, manufacturing a plethora of road vehicles, as well as trucks, buses, and construction equipment.
Elsewhere in the European automotive market, there is a string of German competitors to Daimler. BMW has cemented its position as a proven designer, and manufacturer of high-performance estate and sports cars, and next-generation SUVs. BMW stands proudly alongside the likes of Mercedes-Benz when it comes to product innovation and advancements in driver technology.
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