Daimler India Commercial Vehicles (DICV), a wholly-owned subsidiary of Daimler Truck, has reported a resilient and transformative performance in 2024,  despite a 10 percent decline in the Indian commercial vehicle market driven by macroeconomic headwinds, elections and erratic monsoons.

The company’s key performance highlights include record bus sales of 2,200 units, a 10.5 percent YoY growth and a 65.9 percent surge in bus exports. DICV’s customer service and aftermarket businesses also expanded significantly, with customer service revenue reaching INR 13 billion (up 27.8 percent) and aftermarket revenue growing 18 percent, together contributing over INR 22 billion to the company’s top line.

Satyakam Arya, MD and CEO, Daimler India Commercial Vehicles, said, “Despite numerous challenges, 2024 has been a year of resilience for us. In a time marked by geopolitical tensions and domestic elections, our entire industry faced significant tests. However, through collective strength, we have emerged stronger by focusing on what truly matters - our customers, products and people. Therefore, I am incredibly proud to share that we recorded our highest-ever bus sales, a remarkable milestone that reflects our dedication and hard work. Additionally, we expanded our aftermarket and customer service business, and took decisive actions in innovation, sustainability and transformation. Each of these achievements is the result of the strength and agility of our strategy and the exceptional team at DICV.”

Alexander Schoen, CFO, Daimler India Commercial Vehicles, said, “Despite the tough market environment in 2024, our revenue mix developed positively, driven by a 30.7 percent growth in domestic bus revenue and 58.5 percent increase in bus export revenue. With our customer service and components business collectively generating over INR 22 billion, our business fundamentals remain strong. In addition to these financial successes, we have continued to invest in advanced technologies and sustainable practices that position us for long-term, sustainable growth.”

On the sustainability front, DICV achieved 100 percent renewable power usage (Scope 2) and became the first Indian facility to meet IGBC Green Factory Building V2 standards. Operationally, the company celebrated 10 years of global supply chain contributions through its Consolidation Center, having exported over 300 million parts globally.

In 2024, DICV also expanded its BharatBenz portfolio, launching new Heavy-Duty Rigid Trucks and the TorqShift AMT tipper range, which has already made a strong impact in the mining segment.

Under its organizational transformation program, ‘The BharatBenz Way’, DICV aims to embed Total Quality Management across operations, with ambitions to win the prestigious Deming Award.

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Japanese truck maker Isuzu Motors and Swedish auto major Volvo Group have signed a new strategic agreement that will support joint development by Isuzu Motors and UD Trucks of a common platform for medium-heavy-duty truck models for the Japanese and other Asian markets, utilising Volvo Group technology.

The announcement builds on the strategic partnership framework agreement originally established in October 2020. This long-term collaboration, set for a minimum duration of 20 years, takes up the possibilities and challenges of the logistics industry of the future, maximising value and benefits for customers as well as for society.

As per the new agreement, Volvo Group will continue to supply key components, especially powertrains along with providing technical support in development and quality assurance.

Masanori Katayama, Chairman & CEO, Isuzu Motors, said, "This new agreement marks a significant milestone in the deepening of trust and collaboration between Isuzu Motors and Volvo Group. By combining our technological strengths and expertise, we are paving the way for the future of medium heavy-duty trucks in Japan and across Asia. And it will further enhance the stability and reliability of our products and services for customers."

Martin Lundstedt, President and CEO, Volvo Group, said, "This setup creates a true win-win. By leveraging shared technology, both parties can drive industrial efficiency and long-term value for customers. It strengthens our ability to grow revenues while contributing to a more competitive offering in the Asian market."

The partners aim to complement each other’s strengths, leverage respective technologies and create larger scale synergies to further strengthen their strategic alliance and address future logistics challenges.

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Eicher Trucks and Buses, part of VE Commercial Vehicles (VECV), has introduced its next-generation 'Pro Plus Series', aimed at redefining India’s Light and Medium Duty (LMD) trucking segment. The new range focuses on enhanced payload capacity, fuel efficiency and intelligent connectivity, while featuring factory-fitted, air-conditioned, ergonomic cabins.

The trucks are equipped with Eicher Live and My Eicher telematics platforms for real-time diagnostics and fleet management. Segment-first features include smart air-conditioning with automatic cut-off to improve fuel efficiency during idling.

Vishal Mathur, EVP – Light & Medium Duty Trucks, VECV, said, “Over the years, Eicher Trucks and Buses have won the trust of customers by delivering solutions that enhance value to their business. With our continued focus on fuel efficiency, uptime, and digitalisation, the Plus range provides customers with a profitable combination of performance and sustainability. These trucks are built not only for today’s needs but also for the rapidly evolving demands of India’s supply chains. The new range is a result of deep customer engagement and future-focused engineering. By combining industry leading vehicle productivity with features that improve driver productivity, we are offering customers a truly differentiated platform that supports both intra-city and longer-haul applications. This range further enables us to lead with value, innovation, and customer-centricity in the LMD segment.”

• Eicher Pro 3018XP Plus: Long-haul truck with 18.25T GVW, 160 HP engine, 2.1m sleeper cabin and fuel tank options of 190L or 425L.
• Eicher Pro 2118XP Plus: 18.25T day-cabin truck suited for intercity logistics, with tight turning radius and 160 HP output.
• Eicher Pro 2059 Plus: 7.5T GVW city logistics truck, offering multiple cargo body configurations and the E366 engine.
• Eicher Pro 2095XP Plus: 11.5T GVW truck with 140 HP, available in multiple wheelbase and body options, suitable for e-commerce and FMCG.
• Eicher Pro 2049 Plus: 5.5T intra-city truck offering high torque, low turning circle and enhanced cargo space.
• Eicher Pro 2110XPT Plus: 14T tipper with 160 HP, 500 Nm torque and rugged design for construction and infrastructure applications.

The new Pro Plus range reflects Eicher’s shift from a vehicle manufacturer to an integrated solutions provider, aligning with the changing needs of India’s logistics and transportation ecosystem.

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Montra Electric, the clean mobility arm of the Murugappa Group, has inaugurated its all-new e-SCV (Small Commercial Vehicle) showroom in Gurugram.

The new 3S facility operated by SOL Automotive India will house the EViator, Montra Electric’s e-SCV, which comes with a certified range of 245km and a real-world range of 170km. It is powered by an 80 kW motor that delivers 300 Nm of torque and comes with advanced telematics that the company claims enables over 95 percent fleet uptime. It is backed by 7 year or 250,000km warranty.

Saju Nair, CEO, TIVOLT Electric Vehicles (SCV division of Montra Electric), said, “Delhi NCR is a crucial market in our expansion roadmap, and we are excited to bring the Montra Electric experience to Gurugram. With the launch of this dealership, we aim to provide unmatched service and high-performance electric mobility solutions tailored for modern logistics and cargo needs. Our partnership with SOL Automotive brings together a shared vision of driving cleaner, more efficient transportation for the region.”

Rajesh Gulia, Director, SOL Automotive India, said, “We are proud to be associated with Montra Electric and bring the EViator to Gurugram’s thriving commercial ecosystem. This partnership is a timely response to the growing demand for sustainable transport solutions in the region. We look forward to offering customers a best-in-class ownership experience through our new facility."

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Pune-headquartered automotive major Force Motors has announced its financial results for Q1 FY2026, with revenue of INR 23 billion, up 22 percent YoY.

The EBITDA came at INR 3.57 billion, up 35 percent YoY and net profit at INR 1.85 billion, up 55 percent YoY. The company attributes that its domestic sales volume grew 26 percent, fuelled by robust demand across the flagship models – Urbania, Traveller and Trax.

Prasan Firodia, Managing Director, Force Motors, said, “We are pleased with the strong start to the new financial year. This growth can be attributed to our consistent focus on meeting customer expectations, capitalizing on domestic momentum, and improving internal efficiencies. The continued trust of our customers and the unwavering effort put in by our teams have been pivotal to this success. With positive indicators in the domestic market, we remain optimistic about sustaining growth in the coming quarters. Our investments in innovation, reliability, and expanding our dealer network will further strengthen our market position.”

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