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

  • Zoomlion raising the bar
    January 6, 2017
    Zoomlion has come a long way in 20 years, from small beginnings to becoming a major equipment manufacturer on the international stage. Tower cranes and truck cranes in particular make up the bulk of the firm’s operations and it is a leading producer in this field. Zoomlion makes the world’s largest crawler crane, which has a maximum lift capacity of 3,200tonnes and features a novel design with twin chassis and twin booms. However, Zoomlion is also a major player in the market for concrete pumps both with it
    Read More
  • Zoomlion raising the bar
    November 26, 2012
    Zoomlion has come a long way in 20 years, from small beginnings to becoming a major equipment manufacturer on the international stage. Tower cranes and truck cranes in particular make up the bulk of the firm’s operations and it is a leading producer in this field. Zoomlion makes the world’s largest crawler crane, which has a maximum lift capacity of 3,200tonnes and features a novel design with twin chassis and twin booms. However, Zoomlion is also a major player in the market for concrete pumps both with it
    Read More
  • Shantui diversifying from core dozer line
    October 14, 2013
    Chinese bulldozer firm Shantui is building on its core competency of bulldozers, broadening its range as well as its operations – Mike Woof writes Bulldozer specialist Shantui has a clear policy of broadening its product range, having grown from being a small producer with a limited model line-up to become a major global manufacturer. The company began its diversification process in 1999, buying a road machinery range and then following this up with a line of concrete equipment in 2008. This process cont
    Read More
  • Hyundai recognises ZF contribution
    February 6, 2012
    To mark an association stretching back more than 20 years, ZF-Passau has received an award from Hyundai Heavy Industries. ZF is a leading worldwide automotive supplier for driveline and chassis technology, and its ZF Division Off-Road Driveline Technology and Axle Systems specialises in the development and production of transmissions and axles for agricultural and construction machines as well as axle systems for buses and trucks. Hyundai Heavy Industries, the South Korean construction equipment manufacture
    Read More

Highlighted Content