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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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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
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