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Executive Summary: Daimler AG Overview: Daimler AG is an automobile company that develops, produces, and distributes automobiles. Problem: Solutions & Benefits: Costs & Risks: Timeline 1 Daimler AG - SWOT Analysis SWOT Analysis - Overview Daimler AG (Daimler) develops, produces and distributes automobiles, trucks, vans and buses. An established market position, substantial operational presence and improved performance of the Daimler Mobility business line are its strengths, even as cost inefficiency of the Mercedes-Benz Cars business line, huge debt and product recalls could be causes for concern. The company could benefit from European Green Vehicles Initiative, car rental market in the US, launch of new products and services, and partnerships. However, regional and economic influences, competition and raw material price fluctuations could affect its operations. Daimler AG - Strengths Strength - Business Preformance: Daimler Mobility The company's Daimler Mobility business line is the third major contributor to its revenue. In FY2019, this business line accounted for 15.2% of the company's revenue, and grew 15.2% YoY. The increased financing and leasing contracts: 27% higher new business developed in Switzerland and 9% in the USand 23% increase in insurance business in China, 13% in Russia and 2% in Germany were the factors for such improvement. Over the past three years, this business line recorded a CAGR of 8.7%, which was due to contribution from Europe and the Americas; increased registered mobility services users, and increase in contract volume, contribution from new business and favorable foreign exchange rates. Its operational profit grew 54.6% YoY to EUR2,140 million in FY2019. Strength - Operational Presence Substantial operational presence across the world provides competitive advantages and additional growth opportunities to the company, and allows it to secure local market know-how. With inviolable brands and attractive products and service offerings, production facilities in Europe, North and South America, Asia and Africa, and global network of R&D, distribution, sales and other facilities, Daimler has presence in approximately all the countries. Strength - Market Position An established market position enables the company to meet customer's demands. Daimler is a globally leading vehicle manufacturer with a range of premium automobiles, trucks, vans and buses. The company is the world's largest manufacturer of trucks above 6 metric tons gross vehicle weight. It holds 27% market share in mid-size and large vans in Germany and 16.7% in EU30; 53.8% share in buses over 8 tons in Brazil, 50.8% in Germany and 27.5% in EU30, 38.8% share in Class 8 heavy-duty trucks and 32.9% in Classes 6 and 7 in NAFTA region, and 35.2% in medium- and heavy-duty trucks in Germany and 20% in EU30. Daimler AG - Weaknesses Weakness - Debt Daimler continued to report huge debt in FY2019, which could affect its operational performance, as a major portion of its earings would be diverted to servicing its debt obligations. This could be of concern to the investors and make it difficult for the company to raise funds on favorable terms from the market. In FY2019, the company's total debt stood at EUR 161,780 million, as compared to EUR 144,902 million in FY2018, which indicates an increase of 11.6%. Its debt to equity ratio increased to 2.58 from 22 in the previous year Weakness. Product Recalls Product recalls and other operational issues increase costs to the company and affect its reliability and brand image. In February 2020, Daimler recalled approximately 28,000 of its vehicles, which were equipped with a faulty part manufactured by Israel-based Arkal Automotive CS Ltd. In January 2020, the company announced the recall of 744,000 Mercedes-Benz vehicles in US for faulty sunroof that could detach and pose a hazard Opportunity - Car Rental Market: the US The growth in car rental market in the US could benefit the company's operations. According to the in-house research, the US accounts for 46.4% of the global car rental market value Car rental market in the country is expected to reach US$45,590.3 million by 2020 and US$48,869.2 million by 2021, and expected to have fleet of 3,082.4 thousand by 2021. Leisure is the largest segment of the car rental market in the country accounting for 61.9% of the market's total value. Opportunity - Partnerships Partnerships and agreements could enable the company to enhance its capabilities and secure operational benefits. In January 2020, Daimler's entity, Mercedes-Benz and Zhejiang Geely Holding Group partnered to establish a joint venture, smart Automobile Co Ltd in China with capital of CNY5.4 billion, smart Automobile produces pure premium electric and connected vehicles and sells them in China and Germany. In December 2019, Mercedes-Benz and 360 Group partnered to create solutions that reinforce IT security in cars. This is part of Mercedes-Benz's commitment of offering secure products and secure connected services to customers. Opportunity - Product Launches The launch of new products could enable the company to expand its existing product portfolio and enhance its revenue generation sources. In March 2020, Daimler launched additional electric Freightliner trucks for customer testing in North America. The Customer Experience (CX) fleet from the company's Daimler Trucks North America includes six heavy-duty Freightliner eCascadia and two medium-duty Freightliner eM2 106. The CX test fleet complements the fleet of 30 Freightliner eTrucks. In February 2020, the company launched an initiative to establish a charging infrastructure for battery-electric trucks. Under this, it focuses on charging stations installed at the depots of truck customers in North America and Europe. This could enable the company to take an active role in battery-electric road transport business. Daimler AG -Threats Threat - Raw Material Price Fluctuations The fluctuations in the prices of raw materials could increase Daimler's operational costs, affecting its financial performance. Frequent changes in pricing and imbalances could affect the company's operations and profitability. Daimler uses steel, copper, lead, aluminum, resins, and platinum group metals as raw materials. It also uses plastic finishers, glass and consumables and fuels. In addition, the company's manufacturing facilities rely on natural gas, electrical power and other energy sources Threat - Regional and Economic Influences The company's operations are subject to various regional and economical factors. Prolonged downturn in financial or macro-economic conditions across the world could affect its business. The factors that influence Daimler's business include the strength of the economies and customers' confidence in local and global macroeconomic conditions supplementary products market, industrial and federal, state, local and municipal governmental spending, and concerns about global trade, global health pandemics, developments in energy prices and terrorist activities. These factors may prevent customers and suppliers from obtaining the required financing to pursue their business activities as planned, which may force them to modify, delay or cancel plans to purchase or supply products or services. In March 2020, Daimler announced the suspension of majority of its production in Europe in view of COVID-19 pandemic. Threat - Competition The company operates in a highly competitive environment. Inability to compete effectively could hamper its profits Daimler competes on product quality and features, reliability, safety, pricing, customer service, fuel economy, innovation and product development time, ability to control costs and financing terms. The company competes in various product lines with different manufacturers, some of which have substantially larger operations and financial resources than it does Some of its major competitors include Ford Motor Co, Fritz Draximaler GmbH & Co KG General Motors Co, Iveco SpA and Navistar International Corp among others. NOTE: The above strategic analysis is based on in-house research and reflects the publishers opinion only