Business

Daimler adds 3.3% market share in 2020

Daimler India Commercial Vehicles (DICV) has posted a 3.3% rise in domestic market share to 9.1% for the calendar year 2020 despite the pandemic and economic downturn.

DICV said it was able to outperform the Indian commercial vehicle market and emerge from 2020 with significant increases in both domestic sales (46%) and incoming orders (almost 150%) during the fourth quarter. “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 MD & CEO Satyakam Arya.

In its domestic business, DICV sold 9,624 unit against 14,474 units in 2019. While there was a decline of 34% during 2020, the industry contracted by 60%. On the export front, DICV celebrated a new milestone of 35,000 vehicles, 5,500 CKD kits and 150 million parts shipped to various parts of the world. DICV also celebrated 1 lakh BharatBenz vehicles on Indian roads.

In the bus segment, DICV rolled out 100th FUSO bus and later secured its first major order of 1,017 (10T) AC BharatBenz buses from Assam government for airport services, city, and intercity transportation. In December, the bus division crossed a new sales milestone of 5,000 units.

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Printable version | Apr 13, 2021 8:10:05 PM | https://www.thehindu.com/business/daimler-adds-33-market-share-in-2020/article33965818.ece

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