DICV Reports Steady Performance in 2024, Focuses on Long-Term Sustainability and Product Expansion

Daimler India Commercial Vehicles (DICV), a subsidiary of Daimler Truck AG, reported steady performance in 2024 despite a 10% overall decline in the Indian commercial vehicle market caused by macroeconomic pressures, elections, and erratic monsoons. The company emphasized stability in its core operations, supported by growth in its bus and aftermarket segments, and outlined future plans centered around sustainability, innovation, and organizational transformation.

DICV recorded its highest annual bus sales at around 2,200 units, registering a 10.5% year-on-year growth driven by replacement demand and increased transportation needs. Bus exports also rose by 65.9% to nearly 1,000 units, indicating increased global interest in its India-made offerings.

Customer service revenue reached Rs 1,381 crore with a 27.8% growth over the previous year, while aftermarket business grew by 18%. Combined, these segments now form a significant part of DICV’s revenue.

The company expanded its BharatBenz portfolio in 2024, introducing new heavy-duty rigid trucks and the BharatBenz TorqShift AMT tipper range. This range features automated manual transmission technology used in global Daimler Truck operations and is already being adopted in mining and other key sectors.

DICV also invested in a new facility dedicated to vehicle safety and Conformity of Production (CoP) testing, in line with regulatory requirements and product quality standards.

In sustainability, the company achieved a significant milestone by transitioning to 100% renewable energy for all Scope 2 emissions. Its manufacturing site became the first in India to meet IGBC Green Factory Building Version 2 standards.

DICV celebrated ten years of operation at its Consolidation Centre, which has exported over 10,000 containers and 300 million parts to Daimler Truck plants globally. This center plays a vital role in the company’s international supply chain.

The company continued its internal transformation through the "BharatBenz Way," aimed at enhancing efficiency and quality management across all functions. As part of this initiative, DICV is working toward winning the Deming Award for excellence in Total Quality Management.

DICV was also recognized with a Gold Award at the International Convention on Quality Control Circles (ICQCC) in Sri Lanka and ranked second in the 2024 Dealer Satisfaction Study by the Federation of Automobile Dealers Association (FADA).

Looking ahead to 2025, DICV plans to build on its current foundation by aligning product development, customer engagement, and sustainability efforts to address evolving market needs.