Daimler India posts highest-ever annual domestic volumes in 2023

DICV, Daimler's subsidiary, excelled in 2023: 39% sales growth, doubled bus sales. CEO Arya stressed sustainability. Despite expecting a flat 2024 market, DICV remains optimistic, aiming for sustained momentum.

Daimler India posts highest-ever annual domestic volumes in 2023

Perungudi, Chennai- Daimler India Commercial Vehicles (DICV), a subsidiary of Daimler AG, achieved remarkable performance with robust double-digit growth. Domestic sales surged by 39%, while cumulative sales saw a 13% increase for the entire year. This translated to a substantial 21% growth in revenue and a parallel 21% surge in parts business. Notably, bus sales doubled, marking an impressive 107% growth over the previous year.

Satyakam Arya, the MD and CEO of DICV, expressed pride in the company's achievements, citing it as their best year yet. They outperformed the market by 3.5 times, selling 23,400 trucks, representing a 35% growth, and witnessing over 100% growth in bus sales. Arya emphasized their intention to sustain this momentum into 2024.

In January 2023, DICV revamped its entire BharatBenz truck and bus portfolio to comply with OBD-II regulations, prioritizing reductions in total cost of ownership and enhancing truck productivity. This move resulted in extended service intervals, enhancing customer satisfaction.

The record-breaking sales and financial growth were primarily driven by heightened demand for tipper and tractor-trailer product lines, which saw growth rates of 53% and 79%, respectively, compared to the previous year.

To maintain momentum, DICV unveiled a new rigid heavy-duty range, scheduled for launch in April 2024. Additionally, they announced the introduction of their 12-speed AMT in BharatBenz trucks and a revamped construction and mining truck range aimed at boosting productivity.

Despite anticipating a flat market in 2024, Arya remains optimistic, expecting a surge post-election in the second half of the year. The company's strategic initiatives in 2023 helped them navigate challenges effectively, sharpening their focus on key areas of the business.

DICV is confident as they enter 2024 with an enhanced product portfolio geared towards elevating business growth. Their emphasis on total cost of ownership, uptime, and reliability underscores their commitment to customer satisfaction.

Furthermore, DICV has made strides in sustainability, with a significant portion of their manufacturing operations running on renewable energy and the majority of plant functions utilizing upcycled water. These efforts have resulted in a substantial reduction of over 27,000 tonnes of carbon footprint.