Daimler India BharatBenz trucks report 63.63 pct sales growth in Q1 2015
BharatBenz trucks report significant increase in unit sales at 3,600 (PY Q1 2014 2,200) units, equating to 63.63 pct growth.
With Daimler trucks business in India being young, it’s spirited performance is handing quite a blow to market segment leaders. Through January-February 2015, BharatBenz trucks reported 72 pct sales growth. BharatBenz ended 2014 at 59 pct sales growth at 10,300 (PY 6,500) units sold owing to product portfolio expansion (five new models) and dealership network growth ( 80 showrooms).
Through January – November 2014 growth was reported at 61 pct at 9,700 (PY 6,000) commercial vehicles sold. BharatBenz has climbed up to third place in the heavy-duty truck segment in India at 5 pct market share reported at 2014 end. That number has grown to 7 pct. Fuso trucks manufactured in Chennai are now being exported to 12 countries. At the end of 2014, upward of 1,000 Fuso trucks were sold outside the country
In keeping with expected moderate economic dynamism, worldwide demand for cars is expected to increase by about 3 pct in 2015. Forecast for Mercedes-Benz India points to recovery of demand for cars. Q1 2015 sales stood at (PY 2554) units, equating to 40 pct YoY growth. Mercedes-Benz India ended 2014 with 10,201 (PY 9,003) luxury cars sold, up 13 pct.
Global medium and heavy-duty truck market forecast for 2015 points to drop in demand following significant decrease in 2014. Results will vary in regions. Daimler India forecasts significant market recovery owing to to slightly improved economic prospects here.
In Asia, unit sales are expected at about the same volumes as 2014. BharatBenz trucks dealer network expansion should facilitate growth in unit sales in India. Fuso vehicle range manufactured in Chennai should foster additional export sales growth outside India.
BharatBenz trucks production at Oragadam Chennai plant began in 2012. Manufacturing at its bus plant begins in May 2015.