Daimler India arm to launch 14 models in 2024

Chennai: After posting a record 39% sales growth in 2023, Daimler India Commercial Vehicles (DICV) on Tuesday announced that it will launch 14 models in three portfolios of rigid, construction, and mining in 2024, with an aim to increase its presence in the country. 

DICV’s MD and CEO, Satyakam Arya, said the company sold 23,400 trucks and about 2,000 buses in 2023, with the sales growing by 39% and revenue by 21% as compared to 2022. “This is our best-ever sales and financial growth since inception and it was spearheaded by excellent demand for our tipper and tractor trailer product lines, which grew 53% and 79% respectively compared to 2022,” he added. 

The 14 new models will be introduced under the Bharat Benz brand  and will include a new range of rigid heavy duty trucks, trucks with automated manual transmission (AMT) and heavy-duty range mining trucks – in 2024. 

“The market will remain flat with total industry volume to be at 3.5 lakh units in the 9 to 55 tonne range. The first quarter of the fiscal will be a bit softer due to elections. However, I foresee it picking up once the elections are over,” Arya told the media.

The company, which has so far invested Rs 10,000 crore in its Oragadam plant near here, said the utilisation at the manufacturing facility was almost 100%. “The installed capacity at the plant is 36,000 trucks and 4,000 buses at present. We plan to take it to 45,000 very soon,” he added. 

On Daimler entering the electric bus market, the top executive said it depends on when the private sector in the public transport sphere moves to electrification. 

On being asked if the company planned on entering the LCV segment, he said“We are strong in heavy commercial vehicles and that will continue to be our focus. LCV is not our strength. We pick and choose the market and we bend the curve. We will not be a mass market player, and we will never be.”

On looking at LNG variants, he added, “We are evaluating the market and we may work with alliances, with companies that are already in the sector, but that purely depends on the LNG infrastructure coming up on highways.” 

The new heavy-duty range of trucks is expected to hit the market next month.