Total monthly sales of excavators in China have been growing at a positive year-on-year rate for four consecutive months since July. According to the China Construction Machinery Industry Association's statistics on 26 excavator manufacturing enterprises, 20,501 units of various excavators were sold in October, up 8.1% year-on-year.
"Excavator sales are gradually picking up, mainly due to the gradual improvement in domestic demand, rapid growth in exports and the low base effect. In fact, the scale of overseas sales of excavators in China is getting closer to the domestic scale, and even exceeded the domestic in some months this year, which reflects the gradually increasing competitiveness of China's excavators in the overseas market." The person in charge of Sany Heavy Industry said in an interview with reporters.
Data from the China Construction Machinery Industry Association showed that 20,501 excavators of all types were sold in October, up 8.1% year-on-year, with positive year-on-year sales growth for the fourth consecutive month. Among them, domestic sales of 11,350 units, up 7.9% YoY; down 9.91% YoY, the year-on-year decline narrowed for the third consecutive month. Export 9151 units, an increase of 43.8% year-on-year, maintaining a high growth trend.
The aforementioned person in charge of Sany Heavy Industry said: "China's excavator sales gradually rebounded, on the one hand, the government introduced a series of policies to stabilize growth, boosting the construction machinery industry downstream demand gradually. Since late September this year, the downstream of the start situation has been significantly improved, and even reached the best start situation since this year; on the other hand is the overseas sales to maintain a rapid growth trend, effectively hedging the domestic sales decline."
CCTV Finance's latest excavator index shows that the average start rate of China's construction machinery in October was 64.07%, compared to the average start rate of 61.84% in the first three quarters, an increase of 2.23 percentage points, reflecting that China's infrastructure investment continues to maintain a stable upward trend.
