May Excavator Sales Exceed Market Expectations

Excavator Sales Data for May:

Total sales of 17,824 units, a year-on-year increase of 6.04%.

Domestic sales were 8,518 units, a year-on-year increase of 29.2%.

Exports were 9,306 units, a year-on-year decrease of 8.92%.

Cumulative Sales Data from January to May:

Total sales were 86,610 units, a year-on-year decrease of 6.92%.

Domestic sales were 45,746 units, a year-on-year increase of 1.81%.

Exports were 40,864 units, a year-on-year decrease of 15.1%.

Market Expectations vs. Actual Performance:

Excavator sales in May exceeded market expectations, with the market accelerating its recovery.

CME previously estimated that May 2024 excavator sales (including exports) would be around 16,200 units, a year-on-year increase of about 5%.

Market Outlook for the Second Half of the Year:

Domestic infrastructure investment continues to improve, with a clear upward turning point in construction machinery sales, potentially starting a new upward cycle.

The overseas market faced pressure due to last year’s high base and short-term high inventory. It is expected that in the second half of the year, the high base effect will fade, inventories will decrease, and overseas market growth will recover.

7 Jun 2024 reported by Machinery News