Daimler Truck's Battery-Electric Truck Sales Increase 17% in 2024

Daimler Truck, the parent company of Daimler India Commercial Vehicles (DICV), announced its financial results for 2024, reporting a strong performance despite weakened demand in key markets such as Europe and Asia. The company highlighted a notable 17% increase in sales of battery-electric trucks, alongside a 12% rise in Free Cash Flow of its Industrial Business, reaching €3,152 million compared to €2,811 million in 2023.

Group revenue saw a slight decline of 3%, dropping to €54.1 billion from €55.9 billion in 2023, while adjusted EBIT decreased by 15% to €4,667 million from €5,489 million the previous year. Global commercial vehicle sales totaled 460,409 units in 2024, down 12% from 526,053 units in 2023. However, battery-electric vehicle sales rose significantly to 4,035 units, reflecting growing demand for sustainable transport solutions.

The Trucks Asia segment, which includes DICV’s BharatBenz brand, experienced a 22% decrease in unit sales, falling to 125,234 units from 161,171 units in 2023, with segment revenue declining 13% to €6,111 million from €7,060 million. Incoming orders across the Group dropped by 2% in 2024, attributed to weaker demand in the EU30 region, India, Indonesia, and other Asian markets. Despite this, order intake in Q4 2024 surged by 15% compared to Q4 2023, driven by positive developments in Mercedes-Benz Trucks and Trucks Asia.

Looking ahead, Daimler Truck projects unit sales for 2025 to range between 460,000 and 480,000 units, closely aligning with 2024’s total of 460,409 units. The company continues to prioritize its transformation toward CO2-neutral driving, leveraging its technological expertise and customer-focused solutions.

Daimler Truck operates five reporting segments: Trucks North America (Freightliner, Western Star, Thomas Built Buses), Trucks Asia (FUSO, RIZON, BharatBenz), Mercedes-Benz Trucks, Daimler Buses (Mercedes-Benz, Setra), and its Financial Services division. With over 40 locations and more than 100,000 employees worldwide, the company remains a leader in the commercial vehicle industry.

DICV, a wholly-owned subsidiary based in Chennai, contributes to this global footprint by producing BharatBenz trucks (10-55 tons), buses, and Mercedes-Benz coaches at its 400-acre Oragadam facility. The plant, representing an investment of over INR 9,560 crores, also manufactures products for export to over 60 markets across Africa, Asia, Latin America, and the Middle East.