DICV achieves best-ever results in the 2018 business year, reaches break-even in the truck business
Full-year domestic sales up 35% to 22,532 trucks
Chennai, February 18, 2019: Daimler India Commercial Vehicles (DICV) – the wholly-owned subsidiary of Daimler AG, the world’s leading CV manufacturer with a global reach – recorded its best-ever business results in the year 2018. As planned, the company reached the break-even in its truck business just over six years after the market launch of BharatBenz.
Mr. Satyakam Arya, Managing Director & CEO, Daimler India Commercial Vehicles (DICV), said: “2018 was the best year in the young history of our company and for BharatBenz – our focus on profitable growth continues to pay off.”
In its domestic business, DICV recorded strong growth of 35% with sales of 22,532 trucks (2017: 16,717 units) in the year 2018, surpassing the growth rate of 28% achieved in 2017. This positive development was both due to the strength of the BharatBenz product portfolio which continues to resonate with the rising number of value-conscious customers and to the expansion of the brand’s pan-Indian sales and service network, which grew from more than 130 to over 180 touchpoints in the course of the year.
“With more than 22,500 truck sales last year, we further established India as the 5th largest individual market for Daimler Trucks worldwide, underlining the importance of DICV and BharatBenz for Daimler Trucks,” Mr. Arya explained.
DICV’s exports also developed favourably in 2018, increasing by 8% to 7,054 trucks (2017: 6,553 units). The company now supplies vehicles to 50 countries in Africa, Latin America, the Middle East, and Asia; Chile, Ivory Coast, Cameroon, Rwanda, Ghana and Egypt were added as export destinations in 2018. Overall, more than 20,000 vehicles have been delivered since the start of DICV’s exports business in 2013.
Further milestones were reached in the year 2018: The mark of 1,00,000 units was crossed in production at DICV’s manufacturing plant near Chennai, which is an integral part of the global production network of Daimler Trucks & Buses. Underlining the hallmark reliability of BharatBenz products, the first BharatBenz customer entered the ‘kilometre millionaire’ club, having operated his BharatBenz truck on more than 10 lakh kilometres with the original, factory-installed powertrain.
Mr. Satyakam Arya, Managing Director & CEO, DICV: “2018 was the best year in the young history of our company and for BharatBenz – our focus on profitable growth continues to pay off. Our full attention is on India’s transition to BS-VI in just over a year, and we are confident to add the next chapter to our success story.”
Outlook: set for continuous growth with BS-VI on the horizon
For the year 2019, DICV expects a continuous positive development both in its domestic and exports business. With BharatBenz, focus areas include the full digitalization of the customer ecosystem, further expansion of the sales and service network, and products that provide even better value for the customer.
“Our full attention is on India’s transition to BS-VI in just over a year, and we are confident to add the next chapter to our success story. We are fully utilizing Daimler’s extensive global Euro 6 experience, and we combine this with our customer and market insight to create the best for Indian CV customers,” said Mr. Arya. “In parallel, the third phase of our network expansion will double the number of our sales and service touchpoints in the next 2-3 years and take us even closer to our customers.”
With regard to the new axle load regulations, DICV is upgrading the entire domestic truck portfolio and will launch models and variants in a staggered approach. The first customer vehicle of that new product generation, a 55-tonne tractor with best in class GVW (gross vehicle weight), will be handed over to a BharatBenz customer in Rajasthan in the coming week.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
Four strategic priorities for African telco operators in 2020
HCL successfully completes the first year of digital workplace services at KONE
4 Factors That Ensure Growth of BPO Businesses
How to Troubleshoot Norton Error 2104
Microfinance industry serves an estimated 5.64 Cr unique borrowers, around 30% of the potential market, across 619 districts in India: MFIN Micrometer
2014 The Global Indian New Network (TGINN)