Latest News | DICV Bus Sales Rise by 10.5 Pc in 2024 on Replacement Demand, Expansions

New Delhi, May 15 (PTI) Daimler India Commercial Vehicles on Thursday said it has achieved 10.5 per cent year-on-year growth in bus sales at around 2,200 in 2024.

The company said its highest-ever annual sales were driven by replacement demand and the expansion of transportation solutions.

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Daimler India Commercial Vehicles (DICV) bus exports also increased by 66 per cent year on year to about 1,000 units, reflecting growing global demand for made-in-India buses.

"Despite numerous challenges, 2024 has been a year of resilience for us. In a time marked by geopolitical tensions and domestic elections, our entire industry faced significant tests. However, through collective strength, we have emerged stronger by focusing on what truly matters - our customers, products, and people," DICV MD and CEO Satyakam Arya said in a statement.

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"As we look ahead to 2025, we are confident in our ability to address the existing challenges within the Indian commercial vehicle market by delivering robust products that support the crucial work our customers do every day," he added.

The company will continue to make itself more efficient and future-proof while enhancing its customer-centric approach, Arya said.

Despite the tough market environment in 2024, the company's revenue mix developed positively, driven by a 31 per cent growth in domestic bus revenue and a 58.5 per cent increase in bus export revenue, DICV CFO Alexander Schoen said.

DICV is a wholly-owned subsidiary of Daimler Truck AG. Last year it expanded its product portfolio with the launch of BharatBenz heavy-duty rigid trucks. Additionally, the company introduced the all-new BharatBenz TorqShift tipper range, featuring AMT technology.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)