Under the trend of economic globalization and intensifying market competition, in 2023, Yuchai Heavy Industry actively sought new growth points, closely followed market changes, and seized opportunities in the overseas market. After a year of relentless efforts, the results in export business are remarkable.
Seizing opportunities, expanding overseas markets
With 34 years of experience, Yuchai Heavy Industry is dedicated to expanding into new overseas markets, boosting brand awareness, and increasing larger market shares. In 2023, Yuchai Heavy Industry seized the opportunities in the overseas market. Faced with a complex and ever-changing market environment, the company's leadership demonstrated courage, initiative, and innovation, leading the marketing team in actively seeking new growth points.
Exploring new product spectrum, increasing product differentiation.
Based on in-depth market research, Yuchai Heavy Industry is certain that only by addressing user's problem and creating product differentiation as key strategies can the company expand its overseas market share. Successively, the company had released new models such as the S35 electric skid-steer loader and Z25 electric loader, which feature high-end, electric, and multifunctional characteristics. The launch of these new products add to the competitiveness of Yuchai Heavy Industry in the overseas market significantly, providing strong support for the company's future expansion into new market areas abroad, maintaining a competitive advantage, and achieving sustained development and growth.
Multi-channel promotion, both online and offline
To increase brand awareness and market share, Yuchai Heavy Industry has adopted a multi-channel promotion strategy. Online, the marketing team has established a presence on various overseas social media platforms, while offline, we actively participates in various exhibition. These initiatives effectively put Yuchai Heavy Industry in the spot light, leading to the growth of the sales network. In 2023, nearly 20 new sales channels were introduced, and these channels laid a solid foundation for the continued growth of Yuchai Heavy Industry's export business.
Relentless efforts lead to breakthroughs
The marketing team has exerted so many efforts over 2023, actively cultivating every business relation, following up on each order, and striving to provide customers with high-quality products and services. The establishment of 5 new overseas parts support centers has further strength its cooperation with customers, earning their trust. Through continuous effort and ongoing innovation, Yuchai Heavy Industry has achieved significant breakthroughs in North America, South America, and Eastern Europe, leading to historic growth in export business.
In 2023, Yuchai Heavy Industry achieved a historic high in its export business, with a year-on-year growth of 113%. This marks another milestone in the continuous and steady growth of the company's export business in years. Yuchai Heavy Industry is committed to thoroughly implementing Yuchai Group's "14th Five-Year Plan", deepening market penetration, increasing market share, and innovating to write a new chapter for high-quality development.
