Entering November, driven by a package of policies to stabilize the economy, the full implementation of subsequent measures, and financial and financial policies to support major project construction funds, many places across the country seized the golden period of construction, and the progress of project construction accelerated. At the same time, the "National IV Standard" was implemented , making the sales of construction machinery show an obvious explosive trend.
According to data from the China Construction Machinery Industry Association, sales of excavators and loaders in November increased by 15.8% and 36.2% year-on-year respectively, with domestic sales improving significantly.
Excavators: positive year-on-year growth in domestic sales
According to statistics from the China Construction Machinery Industry Association, 23,680 excavators of various types will be sold in November 2022, a year-on-year increase of 15.8%, and the growth rate hit a new high this year. Among them, there were 14,398 domestic units, a year-on-year increase of 2.74%, and the growth rate returned to positive after 19 months; 9,282 units were exported, a year-on-year increase of 44.4%, which is still strong.
From January to November 2022, a total of 244,477 excavators were sold, a year-on-year decrease of 23.3%; of which 145,738 were domestic, a year-on-year decrease of 43.7%; 98,739 were exported, a year-on-year increase of 64.9%.
Driven by the start of construction of the "Baojiao Building" and infrastructure projects, the total sales volume of excavators in my country has increased year-on-year for five consecutive months since July, and the market sales continue to pick up.
As far as the domestic market is concerned, since April last year, domestic excavator sales have achieved positive monthly growth for the first time. The domestic sales of excavators is a weather vane that reflects the start of domestic infrastructure construction and observes changes in important economic data such as fixed asset investment.
Loader: domestic sales soared 43.3% year-on-year
According to statistics from the China Construction Machinery Industry Association, 13,582 loaders of various types will be sold in November 2022, a year-on-year increase of 36.2%, and the growth rate also hit a new high this year. Among them, the sales volume in the domestic market was 10,075 units, a year-on-year increase of 43.3%; the export sales volume was 3,507 units, a year-on-year increase of 19.1%, maintaining a strong growth trend.
From January to November 2022, a total of 114,938 loaders of various types were sold, a year-on-year decrease of 12.7%. Among them, the sales volume in the domestic market was 75,732 units, a year-on-year decrease of 24.4%; the export sales volume was 39,206 units, a year-on-year increase of 24.6%.
With multiple benefits, the industry is expected to stabilize and recover
The sales of construction machinery such as excavators and loaders are gradually picking up. On the one hand, the government has introduced a series of policies to stabilize growth, boosting demand; on the other hand, overseas sales have maintained rapid growth, effectively hedging the decline in domestic sales. Among them, the obvious improvement in domestic sales in November is mainly related to the accelerated clearance of "National III" products under the switch of "National IV" emission standards. Multiple benefits are promoting the stabilization and recovery of the construction machinery industry.
In terms of infrastructure: On November 16, Meng Wei, spokesperson of the National Development and Reform Commission, said that at the end of July, the State Council deployed policy-based developmental financial instruments to increase financing support for major projects. As of now, all 739.9 billion yuan of policy-based developmental financial instrument funds have been released, and most of the supported projects have started construction, accelerating the formation of physical workloads. According to incomplete statistics from Mysteel, in November 2022, a total of 5,008 projects have been started across the country, a month-on-month increase of 77.09%; the total investment is about 3,620.61 billion yuan, a month-on-month increase of 116.95%.
Real estate: On November 28, the China Securities Regulatory Commission decided to adjust and optimize five measures in terms of equity financing to support the stable and healthy development of the real estate market. The demand for real estate has rebounded under loose policies, which has greatly increased the demand for infrastructure.
National IV switch: From December 1st, the "National IV" standard for construction machinery will be officially implemented, and the production, import and sale of construction machinery with "National III" emission standards will not continue. Since November, construction machinery companies have intensively held "National Four" new product launches and launched promotional activities. At present, the "National III" and "National IV" two-generation products are sold on the same platform, but there is a high price difference between the two generations of products, and some companies have reduced prices to sell and clear the "National III" inventory, while the price increase of the National IV products, It also stimulates users' demand for early purchases, and the sales in the domestic market have been effectively boosted in the short term. However, after December, the "National Four" was switched, and the "National Three" machinery could not continue to be sold, which is likely to affect the sales of domestic construction machinery in December.
