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Daimler Buses looks for sustainable growth in revenue in 2019


Devdiscourse News Desk chennai
Updated: 12-03-2019 20:35 IST
Daimler Buses looks for sustainable growth in revenue in 2019

The company recorded a 60 per cent rise in revenue while the sales in the domestic market witnessed a 70 per cent increase and exports grew by 50 per cent in 2018, he said.

Daimler Buses India, a subsidiary of Germany-headquartered Daimler AG, is eyeing sustainable growth in revenue as it expects a rise in volumes this year, a top official of the company said Tuesday. "We are still in the growth phase. It is sustainable growth, we expect good growth this year," managing director of Daimler Buses India Thomas Fricke said here.

The company recorded a 60 per cent rise in revenue while the sales in the domestic market witnessed a 70 per cent increase and exports grew by 50 per cent in 2018, he said. Asked about the factors that would contribute to the growth in 2019, he told PTI: "Firstly, we have a wide product range. We cover a lot of different segments. Secondly, we expand our network and have better customer-reach. And thirdly, we expect the overall industry volume to go up this year." To a query on the financial show of Daimler Buses in 2018, Fricke declined to share the details.

However, he said the company had sold 1,555 units of luxury coaches and chassis in 2018 as against 906 units in 2017. Export contribution increased by more than 50 per cent - 616 units in 2018 as against 405 units in 2017. "For 2019, Daimler Buses India expects to achieve further significant growth, driven by both domestic and export business," he said.

Fricke said Daimler Buses would in 2019 focus on upgrading its entire portfolio to BS-VI standard, including the BharatBenz 9-tonne buses in school, staff and tourist bus segments, Mercedes-Benz 15-metre multi-axle luxury coaches and bus chassis for 9.16-tonne segments. "BS-VI is an excellent opportunity for us to further lead the shift in India's bus market towards global standards. Our aim is clear, we want to offer the best BS-VI product package available in the Indian market," he said.

According to him, 72 per cent of products were sold in the domestic market and the remaining shipped overseas. Daimler Buses India currently retails 9-tonne, 16-tonne and 24-tonne bus and chassis in the domestic market under BharatBenz while it ships 9-tonne and 16-tonne under the Mercedes Benz brand overseas.

The company exports to 13 markets in Africa, Latin America, Middle-East and South-East Asia. Daimler Buses India has 34 dealers and 180 touchpoints across the country.

(With inputs from agencies.)

COUNTRY : India

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