Daimler Truck, the parent company of Daimler India Commercial Vehicles (DICV), has released its financial Group results for 2024 with yet another year of strong performance, despite weak demand in key markets. The Group registered a significant increase in sales of its battery-electric vehicles compared to the previous year.

The Group revenue slightly decreased by 3 per cent to €54.1 billion (down from €55.9 billion in 2023) and an adjusted EBIT decreased by 15 per cent to €4,667 million (€5,489 million in 2023). However, the Free Cash Flow of the Industrial Business increased by 12 per cent to €3,152 million last year, from €2,811 million in 2023.

The Group’s Trucks Asia segment also witnessed a 22 per cent decrease to 125,234 units in 2024, from 161,171 units in 2023. The segment’s revenue also declined by 13 per cent to €6,111 million from €7,060 million in 2023.

Incoming orders also witnessed a slight 2 per cent decrease in 2024 due to the declining demand in EU30 region and the weaker market demand in India, Indonesia and other Asian markets. However, the Group’s order intake in Q4 2024 driven by a positive development in Mercedes-Benz Trucks and Trucks Asia increased significantly by 15 per cent, compared to Q4 2023.

Daimler Truck registered 460,409 commercial vehicle sales worldwide in 2024, a 12 per cent decrease from its sales in 2023 which stood at 526,053 units. However, sales of its battery-electric vehicles increased by a significant 17 per cent with 4,035 units of sales.