Large sales inventory dragged down sales of construction machinery

According to relevant statistics, in January 29 companies sold a total of 4,999 excavators, a year-on-year decrease of 4.3% and a decrease of 29.6% from the previous December. Calculated according to a comparable company (28 companies last year), sales volume was 4,951 units, down 5.2% year-on-year and down 30.3% from the previous month.

"This sales volume is significantly lower than our previous expectations. It was predicted that excavator sales will be around 5,500 units in January," said Wang Shuwei, an analyst at Anxin Securities.

“The digging machine sold in January could not be sold, mainly because the construction of the downstream infrastructure was seriously inadequate, and the amount of idle equipment on the market was too large.” The above-mentioned Beijing Construction Machinery agent said that it is expected that the market will be less optimistic in the first half of 2013. .

For sales in January 2013 that were lower than expected, Wang Shuwei analyzed that according to the grassroots investigation, due to cold weather in January, local projects mostly entered the downtime period. Some corporate customers such as ports and coal mines purchased excavators.

In a previous civil salon in the machinery industry, a person from the China Investment Fund Research and Development Department stated that only from the operating rate of the excavator, the number of excavators produced by domestic manufacturers was less than 30%, and most of the products were placed in the factory building. In the park, the number of Komatsu and Hitachi foreign companies may start at around 50%.

In addition, there are many stocks on the market, digesting previous stocks also led to less than expected sales in January. Wang Shuwei said that in order to complete the 2012 sales task, some dealers took the initiative to make up the inventory at the end of 2012, and in January 2013, the market partially digested the inventory at the end of last year. Affected by the Spring Festival, it is estimated that the market demand in February is still not optimistic.

In fact, since the second quarter of 2011, the construction machinery market has continued to slump. Some construction machinery manufacturers, in order to increase their performance, have adopted the "zero down payment" and "low down payment" financing leasing models for sales, and the excavator sales performance has been "inflated", which has also brought about a sharp increase in accounts receivable.