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China Company Research - Guangxi Liugong Machinery Co., Ltd
China Market Report, June 2009, Pages: 25
Guangxi Liugong Machinery Co., Ltd is the first listed company of China's construction machinery industry. Its major business including loaders, excavators, rollers, skid steer loaders, pavers, compact engineering machinery, truck crane and forklift.
As a result of the reduced demand from downstream market and the release of loader industry capacity, the gap between supply and demand in 2009 will be highlighted. In the first quarter of 2009 the total sales of China loader was 31,375, a year-on-year decline of 38%; the sales of Liugong was 6403, declined 25% year-on-year. It is estimated that the total sales of loader in 2009 will be 110,000, a year-on-year decline of 30% and Liugong will have a year-on-year drop of 15%.
The excavator market share of Chinese brand in the first quarter of 2009 improved significantly, and then dropped again, but still remained an obviously promotion than 2008. Excavator as an important growth point of profit for Liugong, therefore, Liugong invest more resources on excavator from production, operation and sales channels. Taking into account of the market share that replaces the foreign brands, Liugong excavator sales in 2009 will maintain rapid growth.
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