It’s been a great comeback says JCB as North American sales surge 140% since 2010
JCB CEO Graeme Macdonald has highlighted JCB's North American impressive sales resurgence since 2010
JCB chief executive Graeme Macdonald says the UK manufacturer’s 140% sales rise in North America since 2010 has been a “great comeback story”.
“North America has been on a rollercoaster ride,” Macdonald said during JCB’s Conexpo 2014 press conference in Las Vegas this week.
“In 2005, the North American market [machine market which JCB competes in] peaked at 187,000 units,” he added. “By 2009, it had fallen to an incredible low of 75,000 units. It came back very strongly, and last year stood at 167,000 units. That’s up 5% on 2012, 35% on 2011, and a whole 85% up on 2010.”
“At the same time since 2010, our sales in North America are up by 140%. It’s been a great comeback story for the market, and even better for JCB.”
Commenting on 2013 construction equipment sales worldwide, Macdonald said “The market was more challenging in 2013, due mainly to uncertainty in the emerging markets. The markets had contracted to 825,000 units in 2012, but grew slightly last year by just over 1% to 837,000 units. This had a lot to do with China, which was up 0.8% on 2012. However, China had a strong second half of the year, up by 23%.”
Of JCB’s global market outlook for 2014, Macdonald said that the firm was “cautiously optimistic”. He said the return to growth in China was likely to continue, and that India should recover after this year’s government elections.
Macdonald also tipped North American demand to carry on growing. “We are expecting modest growth in 2014, which is encouraging given the uncertainty that still exists in many markets,” he concluded.
According to Macdonald, JCB also noted equipment 2013 sales growth in Spain, UK and Ireland and Africa, the latter market offering “plenty of opportunities for future growth”.
The JCB CEO said that because Conexpo 2014 was taking place early this year, the company’s 2013 financial results were still to be finalised and made public.