Daimler India CV market share improves in 2020 despite covid impact1 min read . Updated: 01 Mar 2021, 06:01 PM IST
- DICV also exported 35,000 vehicles, 5500 complete knock down kits and 150 million parts across the world
New Delhi: Daimler India Commercial Vehicles' domestic market share increased to 9.1% in 2020 compared to 5.8% in 2019, even as covid-induced economic slowdown hit sales of commercial vehicles.
The local unit of Germany’s Daimler AG reported a decline of 34% in its domestic volumes to 9,624 units in 2020 compared to a 60% decline in overall sales of heavy and medium commercial vehicles.
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DICV’s domestic sales shot up 46% in the December quarter and its order book also grew 150% on the back of improvement in economic activity. The union government’s decision to improve spending on infrastructure projects is further expected to boost retails of such vehicles in the coming months.
DICV also exported 35,000 vehicles, 5500 complete knock down kits (CKD) and 150 million parts across the world last year. There are currently 1 lakh BharatBenz vehicles on Indian roads.
Sales of commercial vehicles has been contracting since 2018 as a result of economic slowdown triggered by the bankruptcy of IL&FS and revised load carrying norms which led to more than 20% increase in freight carrying capacity of trucks. Covid-19 pandemic further impacted sales of trucks and busses.
“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. We are also proud to be a leader in ‘Making in India for the World’, proven by our growing export business," said Satyakam Arya, managing director and chief executive, Daimler India Commercial Vehicles (DICV).
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