Chennai, Feb 20 (IANS) Germany's Daimler AG, one of the world's largest truck makers, will expand its product portfolio by launching new models and expanding its dealer network in India despite an unencouraging market, an official said Wednesday.
"The current environment is the worst in the last 10-15 years. But we are not scared as we have the right products and partners," Marc Llistosella, managing director and CEO of Daimler's Indian subsidiary, Daimler India Commercial Vehicles, told reporters at the plant near here.
Daimler India has added three light duty trucks to its product portfolio. The trucks are badged Bharat Benz.
He said the company will be launching one model per month over the next few months and based on the market conditions the capacity of the factory would be increased.
Daimler India's plant has a capacity of 36,000 units per annum.
According to Llistosella the truck market is down by 30-40 percent now and it is very challenging.
He said the Indian company will be increasing its dealer network to over 80 by the end of this year from the current 32.
Going forward Daimler India will also launch medium duty trucks.
Daimler India closed 2012 launching three models of its heavy duty range (25-tonne Rigid, 25-tonne Construction and the 31-tonne Construction) and selling 1,098 units.