Managing Director of Hyndai Construction Equipment in India Mr Ki Young Kong is targeting to set over 3000 units of eight models of crawler and wheeled excavator in 8-80 tonne category by end of this calendar year 2012.He said with the demand rising for a range of excavator and wheel loader ,the company was bullish on crossing a turnover of over Rs 1,000 crorers in calendar year December 2012.
Based on the optimistic market trends the company had invested Rs 300 Crores at its plant at Chakan near Pune and started commercial production in 2008 and within two years stated booking the profits with total sales revenue of Rs 750 Croroes in the calendar year 2011.
With competition existing in the Indian market against rivals such as Telcon, L&T-Kamatsu, JCB and Volvo the company recently launched its technologically advanced 9 series excavator Robex 22 tonne and Robex 14 tonne.These excavators have low operating cost with lower level but reliable stability, greater digging and crowd force along with advanced hydraulics for improved controllability and smoother operations for quarries and mines were a draw when they were launched last year in Europe and Australia.
The new 22 tonne excavator is available in the market with price tag of Rs 52 and Rs 55 lakh while the 14 tonne priced tagged at Rs 36-Rs38 is available according to the different octroi taxes in each state.
Mr Dheraj Panda head marketing and key accountant management Hyundai consturtion Equipmenat India said that they are targeting a 10 percent of the total sales to come from these two new products.
The company has sold total 2035 units of excavator last year clocking 15-17 percent market share. Mr Kond said the market size of the Indian Construction Equipment Industry was pegged at Rs 20,000 crore .
Hyundai Consturction Equipment India, the Indian arm of Korean Stock exchange listed $27 billion Hyundai Heavy Industries, world’s fifth largest manufacturers of excavators is betting big on Indian targeting to cross over Rs 1000 crore in the calendar year 2012.