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

  • HD Hyundai announces global launch of Develon Uptime Center
    April 12, 2024
    HD Hyundai is announcing the global launch of its Develon Uptime Center.
    Read More
  • Morocco’s new motorway links are boosting connectivity
    December 16, 2014
    Morocco’s massive motorway construction programme will improve transport connections and boost this North African country’s economy - Mike Woof reports A massive road building programme is transforming Morocco, with new motorways connecting cities and major towns, as well as many new rural roads being built. The Moroccan Government has set an impressive plan for its infrastructure investment that will see even the country’s small and remote villages having proper connections to the main road network. The
    Read More
  • A competitive market
    August 2, 2012
    Competition is increasing in the earthmoving sectors, and for some companies market share is improving The wheeled loader market is becoming more competitive, with a number of firms now challenging the leading players, Caterpillar, Komatsu and Volvo. In other earthmoving product sectors such as excavators, companies such as Case, Doosan, Hyundai, JCB, Liebherr and Volvo are becoming more aggressive in terms of sales and are capturing market share. Case is gearing up its operations in Western Europe, Eastern
    Read More
  • Construction equipment launched at Bauma China
    February 15, 2012
    The 2010 bauma China event did, as expected, break all previous records, with companies launching more new equipment than ever. Patrick Smith reports. The queues at the entrances on the first day of bauma China 2010 indicated what the rest of the week had in store. As thousands of visitors poured through the gates each day to view the latest in construction equipment at the expanded Shanghai New International Expo Centre, the organisers knew they were looking at another successful event.
    Read More

Highlighted Content