Daimler India Commercial Vehicles (DICV), has announced that despite supply chain headwinds and adverse cost environment, 2022 was one of the most successful business years since starting its manufacturing operations in India.
The company reported a revenue growth of 37 percent and a sales growth of 25 percent in CY 2022 over CY 2021. In 2022, DICV sold a total of 29,470 units in the domestic market and its exports combined.
Additionally, DICV confirmed that in 2022 it crossed the production milestone of 2,00,000 vehicles (including domestic and exports) and 2,00,000 transmissions at its Oragadam manufacturing facility. The company recorded its best-ever annual vehicle exports with 11,000 units, best-ever annual part sales (over 245 million parts) and best-ever annual domestic vehicle sales in 2022.
Commenting on DICV’s 2022 annual performance, Satyakam Arya, Managing Director & CEO of Daimler India Commercial Vehicles said, “We achieved this delightful business success, in just 10 years of our operations in India, having made significant investments in the market since the beginning and steered our way through the complexities the commercial vehicles industry had to tackle in last decade. Our strong financial and sales performance is despite the pandemic heavily affecting commercial vehicle sales in the last three years. We achieved this performance by consistently improving our cost and revenue position.”
He added, “In addition, we made significant investments in expanding our product portfolio and launched 10 new models of BharatBenz trucks to offer customers a comprehensive portfolio of tonnage options to select from. We are continuing to work diligently on transforming the way we will be doing business in India by investing in Digitalization, Servitization, Sustainability, Diversity and Inclusion as the cornerstones of our strategy going forward.”
