Yanmar theme at CONEXPO is ‘Building With You’, and this goes right to the heart of what the company business is all about. It’s a commitment to customer success and collaboration, and underlines the company evolving position as a global leader in the compact equipment marketplace. There’s everything to play for in North America in 2023.
With the world on the brink of lockdown, the last CONEXPO’s timing couldn’t have been worse. But now, with opportunities abounding and Yanmar better able to capitalize on them, this year’s show comes at the perfect moment.
Confident about the future
While the economy may cool some sectors in 2023 – including possibly residential construction – there remains enough pent-up demand that this may come as an industry-needed pause. All in all, there are more positive drivers in the US economy than negative ones. Dealers’ and rental firms’ stock levels have been depleted, and these channels need to be replenished. In any event, thanks to its lower prices, compact equipment tends to be hit less hard than more expensive general-purpose equipment whenever there are investment uncertainties. Because of these factors, we are sufficiently confident about the future to keep our foot firmly on the gas.
Proudly Japanese: Proudly American
Yanmar CE North America is proud of its Japanese legacy and heritage of innovation – providing quality and reliability for over 100 years. The company is proud of the ASV history of innovation, resilience and durability, with deep roots as a proud American company. The combination of the Yanmar product line, capabilities and expertise with our legacy-ASV compact tracked loader knowledge, operational footprint, supply base and support infrastructure positions us to service the lion’s share of the US compact equipment market. With a new ‘Premium Red’ branding for Yanmar products, plus a soon-to-be announced new product line, we are looking forward to promoting our new status at CONEXPO. The introduction of the latest product line will mean a better experience for dealers and customers and a full-solutions focus on compact equipment customer needs.
North America is among the largest markets for construction equipment – it represents roughly half of the total global market. With the Chinese CE market currently in the doldrums, we know there are challenger brands targeting the NA CE market. As such, Yanmar aims to offer the right blend of products, distribution and support to endear the market to our ownership experience. With shipping costs still exorbitantly expensive, our 40 years of operational, design and supply expertise positions us well to manufacture more of our product range in the US in the future. It’s good for the US economy, good for customers in North America (via shorter lead times and lower shipping costs), and good business for us. Our target is to manufacture 70% of our range for North America in North America. We currently employ nearly 300 people in the US and have ambitious growth plans. The positive reputation of Japanese design, quality and manufacturing coupled with US innovation and manufacturing capability is a compelling combination. It is enabling us to serve the North American market as well or better than entrenched providers and newcomers to the market.