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Daimler Trucks’ BharatBenz eats into rivals, market share rise to 9pct in India

Auto News - Published on Wed, 03 Jan 2018

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Money Control reported that Daimler India Commercial Vehicles' steady operational expansion has translated in to strong growth in volumes and market share for the German brand. The jump comes at a time when Indian companies are upping the ante. BharatBenz - DICV's local brand that makes medium and heavy duty trucks and buses - saw volumes grow 26 percent during January-November to 15,200 units against 12,100 units in the same period last year.

DICV volumes have more than doubled since 2013 - when it had its first full year of operation in India, clocking sales of 6,000 units.

The company pegs its market share has jumped 2.3 percentage points to 9 percent by end of the same period. This puts DICV ahead of Mahindra & Mahindra but behind Tata Motors, Ashok Leyland and VE Commercial Vehicles.

DICV’s rise in share in the domestic market has come at the cost of loss in share of rival Tata Motors whose share dipped below 50 percent. DICV is now the fourth largest player in the medium and heavy commercial vehicle segment.

A statement from Daimler said that “Although the overall market in India was smaller than in 2016 – as a result of regulatory and tax changes especially in the first half of the year – Daimler Trucks significantly increased its unit sales in the fifth year since the launch of the BharatBenz brand.”

The plant in Chennai produces BharatBenz trucks not only for the local market, but also for export to more than 40 markets in Asia, Africa and Latin America.

Hoping to keep the momentum going, DICV hopes to turn profitable next year, a top company official had told Moneycontrol recently. During this year DICV recorded profits in two months and said that the company is on track to break-even next year.

Mr Marc Llistosella, head, Daimler Trucks Asia, said that “Margins are getting better and FY19 should be a profitable year.” On the basis of this DICV is targeting a 20 percent market share in heavy-duty trucks and a ‘double-digit’ market share in medium-duty trucks segment by 2020.

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Posted By : Rabi Wangkhem on Wed, 03 Jan 2018
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