Engineering machinery sales accelerated in October
Excavators sold more than expected in October. In October,30 excavator manufacturers sold 7,447 units, up 25.8% from a year earlier and 8.92% from September. Among them, 6,944 units were sold in the d...
Excavators sold more than expected in October. In October,30 excavator manufacturers sold 7,447 units, up 25.8% from a year earlier and 8.92% from September. Among them, 6,944 units were sold in the domestic market, up 26.74% from the previous year, up 8.75% from the previous year. The sales volume exceeded our expectations.
October 1 -, industry accumulative total sales of excavators 95800, fell 5.9% year on year, and a 7.9% decline last month, early industry overall performance conforms to our expectations of the excavator industry growth is + / - 5% this year, expects full-year sales growth - 5% - 0%.
Low base effect, Japanese and Korean brand sales accelerated growth. According to the monthly sales growth rate of each manufacturer, the growth rate of foreign brands is significantly higher than that of domestic brands. Sales of foreign brands such as komatsu, shengang, caterpillar, Hitachi, doushan and Volvo increased by 74.8%, 57.2%, 45.1%, 28.1%, 26% and 25.3% respectively, significantly exceeding the industry average. Among the domestic brands, only sany (66.3%), lingong (57.2%) and liugong (57.1%) grew at a higher rate. Korea, Japan, Europe and the United States department of sales growth of 20.5%, 74.1%, 34.4%, and domestic growth was only 5.2%, mainly due to a sharp drop in demand over the same period last year, foreign manufacturers pay more attention to risk control and give up sales and share leads to a low base.
The share of Japanese and European systems increased significantly, while the share of domestic excavators decreased. In October with different sales growth, Korean, Japanese and the European and American brand market share of 12.8%, 28.9% and 15.1% respectively, compared with last month - 1%, 1.8%, 0.7% respectively, and the share of domestic brands is 43.2%, from stable. In the january-october period, the share of Japanese and European brands increased by 1.2 and 1.7 percentage points respectively compared with the whole year of last year, and that of domestic brands decreased by 3 percentage points.
The growth rate of excavated sales has been significantly accelerated, while that of small-scale excavated sales has been steady. In October, small excavation (below 20T), medium excavation (20-30t) and large excavation (above 30T) increased by 29.8%, 5.8% and 83.2% respectively. The market share was 53.5 percent, 32.7 percent and 13.8 percent respectively, up 1.4 percentage points, minus 4 percentage points and 2.6 percentage points respectively. Diggings have been the industry's dominant theme this year, growing slightly faster in October than the industry average. The acceleration in sales has been driven partly by a slight improvement in mining projects in some areas, and more importantly by a low base last year.
Maintain "synchronous market-a" rating. Although industry sales exceeded expectations, terminal demand was not so optimistic. From the dealer level, it is known that there is no obvious improvement in terminal demand at present. The utilization rate of existing excavators is about 50-60%, while the customer's overdue rate remains high. The industry has hit bottom but the recovery has been relatively slow. We maintain the "synchronous market-a" rating, and the short-term investment opportunity of traditional earth-moving machinery is still waiting. Forklift industry benefit from the rapid development of logistics warehousing, machinery to replace human power industry demand is stable growth, advice with 臵 anhui homelite elevator together as well as the demand is relatively stable.