Tokyo - Hitachi Construction Machinery Co. lowered its fiscal 2008 forecast
for worldwide hydraulic shovel demand, citing a faster-than-expected drop in
Japan and Western Europe. The company, which earlier had projected a 6 per
cent increase from fiscal 2007, now sees demand climbing just 4 per cent to
229,300 units. The biggest factor in the downward revision was Japan, where
sales were expected to dip 4 per cent but are now projected to drop 15 per
cent to 28,000 units.

In addition, construction booms in the U.K. and Spain have ended due to
ripple effects from the U.S. subprime mortgage crisis, so the demand outlook
in Western Europe has been revised from an 8 per cent to a 15 per cent
decrease.

On the other hand, the firm upped its forecasts for Russia, Latin America
and other emerging markets and resource-rich regions, where demand remains
robust.
Hitachi Construction Machinery announces its hydraulic shovel outlook each
quarter when it releases its earnings report.

If you are looking for Used Construction Machinery & Equipment Exporters in
Japan, Please visit now at : http://www.japanautopages.com

This entry was posted on Tuesday, August 26th, 2008 at 4:33 am and is filed under Used Machinery. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.