Daimler India Commercial Vehicle (DICV), the Indian arm of German automotive major Daimler AG, has begun 2018 with a bang.

It has seen a significant increase in sales and market share in the medium and heavy commercial vehicle market (M&HCV-trucks) during the January-March quarter.

DICV, which follows the calendar year for its accounts, has sold about 6,200 BharatBenz trucks in the domestic market during Q1, registering an increase of 66 per cent over the year-ago period, according to the details provided by Daimler AG in Germany on Friday.

The company has also increased its market share during the quarter to 8.7 per cent (7.2 per cent) in the heavy duty truck and upper medium truck market.

DICV’s bus sales grew 83 per cent to 340 units during the quarter.

“We anticipate significant sales growth in India. Furthermore, we have the possibility to generate additional unit sales in Asia, Africa and Latin America with the expanded range of Fuso trucks produced in India,” said a Daimler AG document.

With DICV making an aggressive push, the Number 3 position in the truck market is expected to see some intense battle between VE Commercial Vehicle (VECV, a joint venture between the Volvo Group and Eicher Motors) and DICV in the coming years.

During FY18, VECV sold 34,316 units, against 28,611 units in the previous year, while DICV’s sales stood at about 19,200 (12,780).

VECV has a share of about 11 per cent, while DICV’s share is estimated at 6-7 per cent in the overall M&HCV (truck) market. Tata Motors and Ashok Leyland continue to account for a major chunk of the M&HCV market with a combined share of about 80 per cent.

DICV has set a target to double its market share in the 9- to 49-tonne truck segment in three years.

“Competition continues to remain high in the industry as reflected by discounts, intensified by new model launches and expanding distribution footprint for select OEMs. Also, brands such as BharatBenz are gradually gaining momentum and market share,” said Subrata Ray, Group Vice-President, Icra.

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