Hyundai targets global 2016 sales of US$22bn

Hyundai Heavy Industries Group (HHI Group) has set an ambitious 2016 equipment sales target of US$22 billion (€19.46 billion). And the Construction Equipment division of Hyundai Heavy Industries – part of the South Korean-headquartered HHI Group - is expecting Hyundai Heavy Industries Europe (HHI Europe) to play a key role in achieving this worldwide sales goal after its most successful year ever in 2015 – with more than 5,000 units sold and 8% growth in turnover for construction equipment and forklifts.
April 22, 2016 Read time: 2 mins
Hyundai’s 30tonne class HX300L excavator
Hyundai’s 30tonne class HX300L excavator in an earthmoving application

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429 Hyundai Heavy Industries Group (HHI Group) has set an ambitious 2016 equipment sales target of US$22 billion (€19.46 billion).

And the Construction Equipment division of Hyundai Heavy Industries – part of the South Korean-headquartered HHI Group - is expecting Hyundai Heavy Industries Europe (HHI Europe) to play a key role in achieving this worldwide sales goal after its most successful year ever in 2015 – with more than 5,000 units sold and 8% growth in turnover for construction equipment and forklifts.

HHI Europe’s 2016 is already said to have started favourably. Thanks to construction works - which began early this year in Germany due to a mild winter - sales are already 50% up compared to the same period of 2015.

In 2016 HHI Europe is once again focusing on the mini excavator market, the heavy diesel forklift market and parts sales. In order to gain success in these focus areas, HHI Europe says it will further expand its dealer network, widen the product range and focus more on key customers.

Since January 2015, Hyundai’s market share of mini excavators has grown in Scandinavia, UK, Eastern Europe and France. Furthermore, the company’s sales of battery trucks (forklifts) in the UK, Spain, Sweden and the Netherlands have doubled. Parts sales in 2015 showed a year-on-year increase of 9%.

HHI Europe is continuing to build its brand new European headquarters in Belgium. Due for completion by the end of 2016, the site in Tessenderlo will cover 81,000m² of land, and include a new main office, a new warehouse, a training facility, an event hall and a showroom.

Mr S.G. Rhee, COO HHI Construction Equipment Division, said: “Our solid investment in Europe will enable Hyundai to increase its success in Europe. The new facility is an excellent step forward for our European division. Our commitment to growth proves that HHIE is a dynamic and forward thinking company.”

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