The withdrawal of foreign brands from the Chinese market is an important opportunity for domestic excavator brands. The news mentioned that in 2010, the market share of domestic brands was about 30%, but by the end of 2020, it had exceeded 70%, and the market share was reversed in just 10 years. This shows that domestic excavator brands have made great progress in technology, quality, market development, etc.
The rise of domestic brands has a huge impact on second-hand dealers. The number of domestic brand excavators in the hands of second-hand dealers will increase accordingly, which gives overseas customers more sources of supply and meets the different needs of customers. At the same time, as a second-hand dealer, our procurement costs are greatly reduced, and product pricing is more advantageous. The rise of brands such as Sany and XCMG has won the recognition of more and more overseas users, and the cost performance is getting higher and higher. We have many second-hand excavators of domestic brands such as SY60 and SY135. We welcome friends from all countries to come to China and make a choice after visiting our factory.
Finally, the withdrawal of foreign brands will give domestic excavator brands more opportunities to demonstrate their advantages, increase R&D investment, and launch more products that meet market demand. At the same time, it will also help domestic brands further expand the international market and enhance their competitiveness in the global construction machinery field.