Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Daimler to drive in 50 new products in domestic and export market

Daimler India Commercial Vehicles, which started operations in 2012, broke even in 2018 when it clocked 35% growth in truck sales to 22,532 units.

, ET Bureau|
Mar 22, 2019, 08.02 AM IST
0Comments
Agencies
Daimler
Daimler sees a boost from the technology transition in India.
Daimler India Commercial Vehicles (DICV), a fully-owned subsidiary of German automaker Daimler AG, plans to launch about 52 products this year in the domestic and export markets, its MD, Satyakam Arya, told ET. “We are working on our exports products portfolio and would launch 25 to 30 products to fill the white spaces. In total (exports and domestic), we will launch 52 products this year,” said Arya.

Last year, DICV produced 30,000 units, of which 7,000 were exported to over 50 countries. DICV exports trucks for its Bharat-Benz, Mercedes-Benz, Freightliner and Fuso brands.

Daimler sees a boost from the technology transition in India. “We were waiting for such an opportunity. We have been already exporting BS-VI compliant vehicles in the overseas market, thus we can be front-runner to bring products compliant with new safety and emission norms,” Arya said. He sees the industry either closing the year flat or slipping into negative.

DICV, which started operations in 2012, broke even in 2018 when it clocked 35% growth in truck sales to 22,532 units. “We have about 180 touch points in India right now and will reach 350 in the next two years,” he said, adding that the company will enter new segments based on the new axle load norm and further expand product portfolio with BS-VI.

On electric vehicles, Arya said the company will bring them at the right time. In India, demand for commercial vehicles has turned negative since November 2018 due to the new axle load norm. “We see market remaining volatile at least till the election. It will linger if the no stable government comes in, Arya said.

The company also recently rolled out trucks to meet the new axle load regulations. DICV Bharat Benz trucks with upgraded axle—a 55-tonne tractor and a 28-tonne rigid truck—are now commercially available at its dealerships across India.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service