Daimler Trucks Hungry For More in Indonesia
Published On Oct 18, 2016
Daimler Trucks in a bid to increase its market share in Indonesia, has signed an agreement with PT Krama Yudha. The agreement requires PT Krama Yudha Tiga Berlian Motors (KTB) to focus on exclusively selling Fuso made commercial vehicles. Fuso (Mitsubishi Fuso Truck and Bus Corporation, MFTBC) is a subsidiary owned by Daimler Trucks.
It is interesting to note here that Fuso has been leading the Indonesian market with an astonishing 47 per cent presence in the country for last 46 years. Fuso’s light duty truck, Colt Diesel makes up for the best-selling commercial vehicle in the country.
As per the agreement, Fuso will increase its stake from 18 to 30 percent in KTB while KTB’s passenger car sale business will be transferred to another independent legal company. After the agreement takes its final course, Krama Yudha will hold 40 percent, Fuso 30 percent and Mitsubishi Corporation 30 per cent in KTB shares.
Marc Llistosella, CEO and President, Mitsubishi Fuso Truck and Bus Corporation, also Head of Daimler Trucks Asia, said: “With our Fuso brand, we have been the clear market leader in Indonesia for over 40 years. By increasing our stake in KTB, we can expand on our position even further.” While Dr Wolfgang Bernhard, Member of the Board of Management of Daimler AG told reporters “By increasing our stake in our partner KTB, we are underlining the importance of the Indonesian market and can be even more active locally. Concentrating our sales activities completely on the commercial vehicle market fits perfectly into our Daimler Trucks strategy of consistently focusing on the needs of our customers. With this shift, we as market leader are positioning ourselves in order to continue to tap market potential in Indonesia in the best way possible.”
Indonesia is one of the fastest growing countries in the world. And with its sudden climb to improved economic status the whole world has set its eyes on the country. BharatBenz trucks in India are a division of Daimler India Commercial Vehicles.
