China’s domestic and foreign excavator sales expected to increase in July
HomeChina’s domestic and foreign excavator sales expected to increase in July
China's domestic and foreign excavator sales expected to increase in July
According to the report, China’s domestic and overseas sales of excavators increased by 17% and 32% respectively in July.
Recovery in domestic sales is becoming evident. Domestic excavator sales showed positive growth in June and surpassed forecasts in July, indicating better access to funding and a rising trend. Total domestic sales from January to July amounted to 35% of the 2021 peak, which remains relatively low; however, the domestic sales will keep improving throughout the year.
Exports are anticipated to stay robust, driven by elevated core commodity prices, Europe’s stimulus measures, and an economic recovery that is stabilizing demand. Furthermore, the rising product quality of local OEMs is aiding this trend. Galaxy Securities predicts ongoing growth in exports of Chinese-made excavators. Industry specialists highlight that July’s strong results indicate positive momentum in China’s construction machinery industry both at home and abroad, with encouraging outlooks due to global economic recovery and consistent advancements in domestic infrastructure.