Daimler India Commercial Vehicles (DICV) has reported a 34 per cent drop in sales during the calendar year ended 2020 to 9,624 unit sales from 14,474 units sold in 2019.
The company claimed it has increased its share in the Indian market by 3.3 per cent in calendar 2020 to 9.1 per cent.
Despite the global pandemic and economic downturn, DICV was able to outperform the Indian CV market and emerge with significant increases in both domestic sales (up 46 per cent) and incoming orders (up nearly 150 per cent) for Q4, said the company.
Satyakam Arya, Managing Director & CEO, DICV, said, “DICV continues to transform the Indian CV industry with our made-for-India BharatBenz brand. The value offered by our products is validated by increasing customer confidence, enabling us to outpace the market even during the tough conditions of 2020.”
In its domestic business, DICV has recorded 9,624 unit sales (14,474 units sold in 2019), which is a drop of only 34 per cent in an industry that recorded a market contraction of 60 per cent. On the export front, DICV celebrated a new milestone of 35,000 vehicles, 5,500 CKD kits and 150 million parts sold across the world. DICV also celebrated 1 lakh BharatBenz vehicles on Indian roads.
In May, DICV signed an MoU with the Tamil Nadu government to invest Rs 2,277 crore to expand operations and later in November inaugurated its new ‘Global Capability Centre’ to increase exports of shared services to the rest of the Daimler Group.
"Having focused strongly on digitalisation, R&D investment and fixed-cost optimization over the last year, DICV is now well placed to take advantage of India’s recovering CV market. The company expects to build on its momentum and achieve healthy growth in sales and market share over 2021," he said.
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