Hyundai targets buyers with machine auction

Hyundai Construction Equipment (HCE) has held its first Hyundai Construction Equipment Auction. This was the first used construction equipment auction platform run in South Korea. The auction was run in Eumseong and forms part of a plan by the firm to increase its market share in emerging markets such as Southeast Asia. The company is aiming to develop the leading market share for new construction equipment in the emerging markets including Vietnam, Myanmar and Laos. These countries have a high demand for
November 28, 2017 Read time: 2 mins
Hyundai received strong interest from customers in a wide range of countries for its recent machine auction in South Korea

236 Hyundai Construction Equipment (HCE) has held its first Hyundai Construction Equipment Auction. This was the first used construction equipment auction platform run in South Korea. The auction was run in Eumseong and forms part of a plan by the firm to increase its market share in emerging markets such as Southeast Asia. The company is aiming to develop the leading market share for new construction equipment in the emerging markets including Vietnam, Myanmar and Laos. These countries have a high demand for used equipment and the company intends to grow its user base by exporting used equipment in these countries. The auction is a key driver in the firm increasing its market share in the new equipment market.

The firm said that the auction received responses from overseas customers with around 100 mega-dealers and customers from major emerging markets including Vietnam, Hong Kong, Taiwan, Pakistan, Kenya and Chile. The domestic market share of Hyundai Construction Equipment in 2017 is 36%, up by 10% from 26% in 2016, according to market figures.

In May this year, HCE announced that it plans to enter top five ranking by 2023 in the global construction equipment market by improving product qualities and expanding its footing into new overseas markets.

Finance & Funding

For more information on companies in this article

Related Content

  • More efficient asphalt output from new plants
    November 20, 2015
    Advances in asphalt plant design offer major gains in product throughput and quality, while also allowing for warm asphalt and increased recycling The asphalt sector is constantly looking for ways to optimise production, lower costs and improve product quality and consistency. Competition is fierce in the asphalt plant market, with several of the key companies working hard to develop new and more efficient technologies, as well as equipment that is more versatile and more mobile. Advances have been made
    Read More
  • Powerscreen crushing it at bauma!  
    October 25, 2022
    The high-performance Premiertrak 330 jaw crusher and Chieftain 1700X three-deck incline screen are standout models for Powerscreen.
    Read More
  • Intelligent bulldozers provide productivity boost
    September 27, 2013
    New smart dozers provide faster working and greater efficiency - Mike Woof reports Both Caterpillar and Komatsu are making key moves in offering intelligent bulldozing capabilities on their latest machines. In the medium-sized bulldozer market, both companies have sophisticated new models that will increase both productivity and finish quality, while lowering running costs for the user.
    Read More
  • Compacting the soil
    February 8, 2012
    High productivity and value for money are two benefits claimed by the new generation of soil compactors - Mike Woof reports. The market for soil compaction machines looks to be growing more competitive as new manufacturers enter the sector. This is particularly noticeable now that Chinese firm LiuGong has moved into the sector. Meanwhile new design concepts are also allowing firms to develop much larger and more powerful machines than ever before. The choice for contractors is a wide one and manufacturers a
    Read More

Highlighted Content