Last Updated on November 5, 2023 by asifa
It’s no secret that Hyundai Construction Equipment India (HCEI) is a force to be reckoned with in the Indian construction and mining excavators market. Their entry into this space has been nothing short of a revolution, and they’ve made their presence known through their innovative products and commitment to customer service. Hyundai’s hydraulic excavators have gained significant popularity across the heavy-duty machinery industry due to their excellent performance, high efficiency, and outstanding user comfort.
Now, with their most recent achievement – As a matter of fact, HCEI claimed a whopping market share of 19%, overtaking other Japanese construction equipment companies.
Let us take a closer look at this incredible achievement
On May 17, 2022, Hyundai Construction Equipment India announced that it sold 382 excavators in the Indian excavator market. Additionally, Hyundai Construction Equipment India reported that its April sales in India totaled US$2.25 million, the highest monthly total since the formation of its Indian division. Here are some prominent tactics HCEI used to gain the upper hand in the market.
Table of Contents
1. Promotional events
One of the key reasons for this mammoth sale is HCEI’s SMART initiatives to hold special promotional programs for small and medium excavators. As a result, it has helped HCEI to expand its market share and gain a competitive advantage.
2. After-sales support
It has further cemented its position in the market, complemented by excellent after-sales services by forming a cross-functional team (CFT) to address issues like equipment failures.
Commenting on the matter, an HCEI official said, “We will strive to remain the leader in market share by developing customized equipment that fit local needs and winning customers’ trust by providing after-sales service far better than our competitors.”
3. Improvement in the sales network
The Covid-19 pandemic impacted almost every industry globally. Not surprisingly, the construction and heavy machinery industry witnessed a huge slump. That’s why the company has been committed to improving its sales network and producing customized equipment at its factory in Pune, India.
Moreover, considering the pandemic restrictions, it aggressively leverages digital marketing tools to reach out to its customers. The company believes these efforts have helped it claim the top monthly sales spot.
With such a massive sales record this year, HCEI has no intention of putting the brakes on it anytime soon. It participated in EXCON 2022, the largest-ever construction equipment expo held in South Asia. Furthermore, the company introduced its excavator models, ranging from 8 tons to 38 tons, featuring diverse attachments.
Hyundai Construction Equipment India promises to produce high-quality crawler excavators in the future. An HCEI official said, “India is a construction equipment market with infinite growth potential. We view it as a core region where we must operate with a market diversification strategy.”