Significant growth in China's excavator and loader sales in July 2024
The China Construction Machinery Association released the sales statistics for excavators and loaders in July 2024:
Excavators:
In July 2024, 13,690 units were sold, a year-on-year increase of 8.6%.
Domestic sales were 6,234 units, up 21.9% year-on-year; exports were 7,456 units, a decrease of 0.51% year-on-year.
From January to July 2024, a total of 116,903 units were sold, a decrease of 3.72% year-on-year, with domestic sales up 6.23% and exports down 12.3%.
Loaders:
In July 2024, 8,379 units were sold, a year-on-year increase of 27.1%.
Domestic sales were 4,439 units, up 24.7% year-on-year; exports were 3,940 units, up 30.1% year-on-year.
From January to July 2024, a total of 65,397 units were sold, a year-on-year increase of 3.5%, with domestic sales down 0.36% and exports up 7.84%.
Market Analysis:
The recovery in domestic excavator sales is accelerating, with three consecutive months of positive growth.
Loaders performed strongly even in the traditional off-season, with significant growth in both domestic and international sales.
The trend towards electrification is accelerating, with the market penetration of electric loaders reaching 15.9% in July 2024. Electric construction machinery is increasingly recognized in the market.
12 AUG 2024 reported by Machinery News