Daimler India Reports 'strong' Growth In Revenue, Sales In CY 2022

Daimler India Commercial Vehicles (DICV) on Monday announced growth in its sales and revenue in 2022, selling over 29,000 units during the calendar year (CY).

A company release said "despite supply chain headwinds and adverse cost environment, 2022 was one of the most successful business years."

"The company reported a revenue growth of 37 per cent and a sales growth of 25 per cent in CY 2022 over CY 2021. 2022 was especially the best year of growth as DICV sold a total of 29,470 domestic and export units of trucks and buses in the calendar year," DICV, a wholly-owned subsidiary of Daimler Truck AG, Germany, said.

In 2022, the vehicle-maker crossed the production milestone of two lakh vehicles, including for domestic and exports.

"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," it added.

Satyakam Arya, Managing Director and CEO of DICV, said 2022 was one of the company's strongest performing calendar years.

"We crossed remarkable production milestones as well. 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 in spite of the (Covid-19) pandemic heavily affecting the commercial vehicle sales in the last three years," Arya said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)