Daimler India sales break record in 2023: Bus sales grew 107%
Daimler India sales achieved remarkable growth in 2023, with the local subsidiary of Europe’s largest truck maker Daimler AG reporting strong double-digit growth.
Summary
– Daimler India sales grew by 39% in the domestically
– Cumulative sales grew by 13%
– Growth in revenue and parts business grew by 21%
– Bus sales grew by 107% over 2022
During the year 2023, Daimler India Commercial Vehicles (DICV) recorded a 39% increase in domestic sales and a 13% rise in cumulative sales.
This translated to a notable 21% growth in revenue and parts business. Notably, bus sales doubled with a remarkable 107% growth over 2022.
The company is also set to launch 14 new products across three segments in 2024, despite expectations of a flat market due to global geopolitical challenges and upcoming elections.
According to Satyakam Arya, MD and CEO of DICV, the year 2023 marked the best-ever performance for the company.
With 23,400 trucks sold, registering a growth of 35%, and buses growing by over 100%, DICV significantly outpaced the market by 3.5 times.
Arya expressed confidence in sustaining this momentum into 2024.
In January 2023, DICV transitioned its entire Bharat Benz truck and bus portfolio to comply with OBD-II regulations, focusing on reducing the total cost of ownership and increasing truck productivity.
The exceptional sales and financial growth in 2023 were driven by strong demand for tipper and tractor-trailer product lines, which grew by 53% and 79%, respectively.
To maintain the momentum, DICV recently introduced an all-new rigid heavy-duty range with several firsts, scheduled for launch in April 2024.
Daimler will also introduce its 12-speed AMT in Bharat Benz trucks and revamp its construction and mining truck range for improved productivity.
Despite anticipating a flat market in 2024, Arya foresees strong growth in the bus market, projecting sales to increase by over 35-40%.
Strategic initiatives undertaken in 2023, coupled with a focus on costs and brand sharpening, position DICV for continued success in 2024.
Last year, the company achieved its annual goal of setting up 350 sales and service outlets nationwide, further expanding the Bharat Benz Dealership network across India.
On the sustainability front, DICV’s manufacturing operations are predominantly powered by renewable energy.
About 90% of plant functions utilize upcycled water, significantly reducing over 27,000 tonnes of carbon footprint.
