HANNOVER, Sept 24: German Commercial vehicle major Daimler AG is eyeing double-digit market share in the Indian truck segment in the next five years as it expects the sector to recover after a prolonged slump, with a stable government at the Centre.
The company, which unveiled two made-in-India trucks at the international commercial vehicles show here, had 4.8 per cent market share in the first half of 2014 in trucks segment.
“India is a strategic market for Daimler Trucks globally. Its long-term market potential is intact. Indian market is very volatile but we would like to have a market share that is two digits, more than 10 per cent in 5 years,” Wolfgang Bernhard, Daimler Board Member for Trucks and Buses, told reporters.
Bernhard said he expects sales in Indian market to pick up with the new government at the Centre.
Giving outlook for current year, he said: “We hope that in India with a stable government, at some point of time with actions taken by Prime Minister Narendra Modi…Indian market will recover. After three years of downturn, we will see some growth in the Indian market.”
As per SIAM data, total sales of commercial vehicles in India were down 13.66 per cent to 2,37,423 units in the April-August period this fiscal as against 2,74,989 units in the year-ago period.
Elaborating on plans for the Indian market for its trucks business, Bernhard said the company would use India not only as the export hub for complete trucks but also for components.
“We expect to export around 1,000 trucks from India by the end of this year,” he added.
Daimler India exports India made FUSO trucks in Sri Lanka, Bangladesh, Zimbabwe, Brunei, Zambia, Kenya and Tanzania.
Two India-made products showcased in the show are the new BharatBenz 3143 (Concept) and FUSO FJ 2528 R left-hand drive trucks.
“The BharatBenz 3143, currently showcased as a concept vehicle, is slated for launch in the year 2015 and is specially designed keeping in mind the ultimate requirements of the Indian mining sector,” the company said.
The other product made in India, the new FUSO FJ 2528R Left-Hand Drive variant is specifically designed to cater to the requirements of the export markets of Daimler India Commercial Vehicle, targeting markets in Asia and Africa. The company also expects to gain access to much wider markets like the Middle East, ASEAN and Latin America with the new left-hand drive truck. (PTI)^^^^^
Follow our WhatsApp channel