DICV eyes break even in 2018

Five years after starting operations in the country, the Indian subsidiary of the world’s largest medium and heavy truck maker Daimler says it aims to break even operations in India by next year. It assumes significance as Daimler India Commercial Vehicle had approached the Indian bankruptcy court in the past after its net worth had eroded. Reviewing the annual performance in Chennai, Marc Llistosella, Head of Daimler Truck Asia said “Daimler Trucks Asia has never been as profitable as last year. DICV has never done better financially as in the last year.” Daimler India Commercial Vehicle or DICV has managed to hold on to its volumes in 2016 led by doubling of exports even as volumes started to decelerate in the domestic market in the second half of 2016.