Daimler India yesterday launched its Fuso-branded trucks in Bangladesh to tap into the growing commercial vehicles market.
The trucks will be sold exclusively through Ranks Commercial Vehicles Ltd, a concern of Rangs Group.
Manufactured at Daimler India's state-of-the-art Chennai plant, the Fuso trucks range comprises five models in the light/medium-duty (9-16 tonnes) and medium/heavy-duty (25-49 tonnes) categories.
“I think Fuso trucks will get a good response in the Bangladesh market due to its fuel efficiency and low maintenance cost,” said Sohana Rouf Chowdhury, managing director of Ranks Commercial Vehicles.
The local market for commercial vehicles is huge, but it is dominated by Indian brands like Tata and Ashok Leyland, she said at a press conference at Rangs Bhaban in Dhaka.
The country has around 20 companies that sell around 10,000 unit buses, trucks and pick-ups a year, and the market is growing by 10-15 percent annually, according to Satyajit Saha, general manager of Rangs Motors Limited.
Of the total market share, Tata holds around 50 percent, followed by Ashok Leyland at 25 percent and Eicher 12 percent, he said.
Najmus SB Ahmed, general manager of the company, said there will be a spike in demand for commercial vehicles once the Padma Bridge project takes off in full steam.
The company, which has already sold seven Fuso trucks in Bangladesh, did not mention the exact price of the vehicles but indicated that it would be 10 percent higher than the Indian branded trucks. Daimler India, a wholly owned subsidiary of Daimler AG of Germany and Mitsubishi Fuso Truck and Bus Corporation of Japan, launched the new Fuso range of trucks in May last year.
The trucks are already present in the markets of Zimbabwe, Kenya, Sri Lanka, Zambia and Tanzania, with more markets to follow.
Daimler India has set up a production plant spread across 400 acres in Oragadam near Chennai at an investment of over Rs 4,400 crore (around €700 million).
Anirban Dutta, senior manager for exports of Daimler India, was also present.