DICV registered sales growth of 25%, reported a revenue growth of 37% in CY 2022

Chennai – Daimler India Commercial Vehicles (DICV), a 100% subsidiary of Daimler Truck AG today announced that - despite supply chain headwinds and adverse cost environment – 2022 was one of the most successful business years since starting its manufacturing operations in India. The company reported a revenue growth of 37% and a sales growth of 25% in CY 2022 over CY 2021. 2022 was especially the best year of growth as DICV sold a total of 29,470 domestic and export units of trucks and buses in the calendar year.

Additionally, DICV confirmed that in 2022 it crossed the production milestone of 200,000 vehicles (including domestic and exports) and 200,000 transmissions at its Oragadam manufacturing facility. The company recorded its best ever annual vehicle exports with 11,000 units, best-ever annual part sales (over 245 million parts) and best-ever annual domestic vehicle sales in 2022.

Commenting on DICV’s 2022 annual performance, Satyakam Arya – Managing Director & CEO of Daimler India Commercial Vehicles said, “CY2022 was one of our strongest performing years with 37% growth in revenue and 25% growth in sales. We crossed remarkable production milestones as well. We achieved this delightful business success, in just 10 years of our operations in India, having made significant investments in the market since the beginning and steered our way through the complexities the commercial vehicles industry had to tackle in last decade. Our strong financial and sales performance is in spite of the pandemic heavily affecting the commercial vehicle sales in last three years. We achieved this performance by consistently improving our cost and revenue position. In addition, we made significant investments in expanding our product portfolio and launched 10 new models of BharatBenz trucks to offer customers a comprehensive portfolio of tonnage options to select from. We are continuing to work diligently on transforming the way we will be doing business in India by investing on Digitalization, Servitization, Sustainability, Diversity and Inclusion as the cornerstones of our strategy going forward. We have expanded our R&D operations, have a sharper focus on Diversity, Equity & Inclusion, upskilling & reskilling our workforce, and many such initiatives to meet our vision in the mobility space for the near and medium term.”