- Company sells 1,400 units as of the end of May, expects to surpass annual target despite the COVID-19 pandemic.
- Other Bobcat products expected to enjoy synergistic effects.
Doosan Bobcat has successfully established itself in the North American compact tractor market, showing a steady increase in sales so far in 2020.
On June 18, the company announced that the compact tractor it launched last year is doing very well in the North American market this year, with total sales standing at 1,400 units as of the end of May. The achievement is all the more impressive given the unusual situation caused by the COVID-19 pandemic. At present, the product looks highly likely to surpass the annual sales target of 3,000 units in the North American market before the year’s end.
The continent’s compact tractor market amounts to approximately 170,000 units per year. Doosan Bobcat aims to seize a 10% share, i.e. 300 billion won in sales, of the market by 2025.
The main reasons why Doosan Bobcat's compact tractors have established a presence in the North American market so quickly include its unique brand recognition in the compact equipment market and the reliable service of its local dealers. Doosan Bobcat has maintained the highest market share in the North American compact construction equipment market for over ten years on the basis of its strong sales network, which comprises over 600 outlets, and its abundant sales know-how.
“Despite the recent impact of COVID-19 in North America, Doosan Bobcat's unique competitive edges, including its excellent product performance and diverse financing programs, have resulted in steady sales increases, with the synergistic effects expected to spread to sales of the company’s compact tractors and other compact equipment,” said an executive of Doosan Bobcat, “We will consolidate our position as the leader of the global compact equipment market by continuously expanding our product portfolio.”
▲Doosan Bobcat has successfully established itself in the North American compact tractor market