Xiangcai Securities released a research report saying that according to statistics from the Construction Machinery Industry Association, 18,202 excavators of various types were sold in May 2025, an increase of 2.1% over the previous year. Its sales volume in China was 8,392 units, down 1.5% year on year; export volume was 9810 units, up 5.4% year on year. In May, domestic excavator sales fell 1.5% year on year, and the growth rate fell 17.8 pct from the previous value, which was lower than expected. The main reason was that demand was overdrawn due to high sales growth at the beginning of the year, and the weakening operating rate of construction machinery affected demand-side confidence. Although domestic excavator sales declined year on year in May, real estate and infrastructure sectors have shown a marginal improvement trend since this year. At the same time, demand for updates is also expected to be released at an accelerated pace with policy support, and domestic sales of excavators are expected to continue growing throughout the year.

Xiangcai Securities released a research report saying that according to statistics from the Construction Machinery Industry Association, 18,202 excavators of various types were sold in May 2025, an increase of 2.1% over the previous year. Its sales volume in China was 8,392 units, down 1.5% year on year; export volume was 9810 units, up 5.4% year on year. In May, domestic excavator sales fell 1.5% year on year, and the growth rate fell 17.8 pct from the previous value, which was lower than expected. The main reason was that demand was overdrawn due to high sales growth at the beginning of the year, and the weakening operating rate of construction machinery affected demand-side confidence. Although domestic excavator sales declined year on year in May, real estate and infrastructure sectors have shown a marginal improvement trend since this year. At the same time, demand for updates is also expected to be released at an accelerated pace with policy support, and domestic sales of excavators are expected to continue growing throughout the year.