Hyundai Construction Equipment (HCE) announced that it seized the top-ranking spot in monthly sales of excavators for the first time in 14 years, following its market entry into India in 2008.
In April this year, HCE sold 382 excavators, comprising a 19 percent market share in India, outcompeting the main Japanese competitor (17.3%). This year, HCE has been rapidly growing in market share against Japanese competitors with a high level of recognition and Chinese competitors based on price competitiveness, posting the second or third rank in market share by selling 286, 382, and 336 excavators in January, February, and March respectively in India. In terms of spare part sales, HCE posted USD 2.25 million (KRW 2.88 billion) in April, a record figure accomplished in its history in India.
HCE has rolled out a special sales promotion program for small-sized excavators to expand its market share, in addition to a strategy to strengthen after-sales services to deal with matters like equipment failure issues.