Daimler India Commercial Vehicles (DICV), which sells the BharatBenz truck and bus brand in India, is likely to end the current calendar year with total truck sales close to 2019 levels, buoyed by a strong recovery in the country’s commercial vehicle market.
With truck sales up 29 percent (over 9 tons) to 3,640 units during the September 2021 quarter, the company’s January-September truck sales totaled 10,408 units, above the 2020 sales volume of 9,624 units.
The company recorded volumes of 3,528 units in the December 2020 quarter and with the improved demand scenario in the medium and heavy commercial vehicle segment, the company may record higher volumes this quarter compared to the same period last year. As a result, the company’s total truck sales for 2021 are expected to reach approximately 2019 volume 14,474 units. Its strong sales year was 2018 when the company recorded 22,530 units.
See also: Road accidents cost in India $15-38 billion, says Bosch study
“CV industry volumes are expected to improve, buoyed by healthy freight availability, better freight rates, and an increase in construction activity. Channel checks indicate volumes are being supported by flaps, ICV, and some demand for MAV replacement,” said auto analysts at Emkay Global Financial Services.
In the past two quarters, CV sales have improved dramatically 65 percent year over year, and grew 25 percent year-over-year in the September quarter, primarily due to lower base. However, demand will continue to recover in line with the recovery in general economic activity, improvement in fleet utilization levels, and an increase in the number of road construction projects.
restore the part
In a recent interaction with business lineThe recovery in the CV segment has been impressive and with the current sales momentum, the M&HCV industry may end in 2021 with a total volume close to 2 lakh, although Satyakam Arya, Managing Director and CEO of Daimler India Commercial Vehicles (DICV) said, Who will remain below the scale of the industry before Covid?
DICV’s market share (in the segment over 9 tons) was nearly 8 percent during January-September 2021, down slightly from 9.1 percent in the same period in 2020, according to data provided by Daimler AG, The parent company of DICV.
Bridging wallet gaps
As the CV industry enters its next growth cycle, DICV will be launching new products to fill some of the gaps in its product range and take advantage of reviving demand.
See also: Commercial Vehicle Industry Enters Next Growth Cycle: DICV’s Satyakam Arya
It will also ramp up its dealer network to support the emerging growth curve.
We have announced that we will reach 350 touchpoints by 2022 and we are on track to achieve that. We have added 8 new touchpoints this year. “When we started the year, we had about 250 touchpoints and we could end 2021 with 270 touchpoints,” Arya said.