Machinery sales of China’s XCMG jump 70% in first quarter

Chinese construction machinery manufacturer XCMG reported a 70 per cent jump in quarterly machinery sales in the first quarter of 2017 after selling more than 4,000 excavators worldwide, marking a 150 per cent year-on-year increase.
Following on this growth trend, the XCMG Excavator Machinery Business Department is about to ship more than 20 so-called intelligent excavators to Ghana.
In addition to excavators, XCMG’s other products, including truck cranes, crawler cranes and road rollers, also showed significant growth in sales in the first quarter.
Closely tied with the economy, the construction machinery industry is one of the important indicators of a state’s macro-economic operation. Being one of the leaders in the industry, XCMG has bounced back from a low base and projects much-improved overall operations in 2017.
The sales of double-drum rollers have increased by 177 per cent, surpassing the gains by other top international brands. Pavers with a spread of more than 12 metres saw a 153 per cent increase in sales, horizontal directional drills saw a 170 per cent jump in sales, and the firefighting sector increased by 600 per cent.
XCMG’s foundation and heavy truck divisions have secured orders of 200 million yuan (Bt1 billion) and 60 million yuan, respectively, as demand in those markets has also shown improvement from the previous year.
“While the industry has been in a slump, XCMG continues to provide quality products, focused research and development on mid- to high-end products and further expand our product lines into intelligent manufacturing, and has built an Internet of Things management platform to upgrade and optimise our products through analysing big data,” said Sun Jianzhong, deputy general manager of XCMG.
XCMG invests 5 per cent of capital into R&D every year. As the industry recovers, XCMG's years of experience and talented teams of engineers have enabled the company to maintain a more than 50 per cent market share in the intelligent excavators, 500-tonne crawler cranes and 80-tonne truck cranes sectors in the first quarter 2017, according to the China Construction Machinery Association.