[Click eStock] "Daedong Rises to North America's Big 3... Full-Scale European Market Entry"

On the 30th, KB Securities analyzed that Daedong has risen to the 3rd place in market share in North America and expects future expansion into Europe.

Kim Hyun-gyeom, a researcher at KB Securities, stated in a report on the same day, "The first half performance recorded sales of 835.8 billion KRW and operating profit of 63.3 billion KRW," adding, "The proportion of North American sales surpassed 60% for the first time ever, elevating Daedong KIOTI to the BIG 3 in the North American small and medium-sized tractor sector (Kubota, John Deere, Daedong KIOTI)."

Researcher Kim identified three key points for the second half of this year. The first is the expansion of sales from the European subsidiary, which currently accounts for a relatively low proportion (5.9%). Kim said, "Daedong has secured over 500 distributors in about 30 countries through its subsidiary Daedong KIOTI Europe," and judged that "they will focus their capabilities on expanding sales of profitable medium and large tractors, centered on Germany where direct sales have begun."

He also noted, "Attention is paid to changes in the product mix to expand sales and improve profitability in the North American market," forecasting that "while strengthening the dominance of existing main models, they will focus on sales of the premium large tractors HX with 90 to 140 horsepower launched at the end of last year and the premium medium line tractors with 61 to 80 horsepower scheduled for release in the first quarter of next year."

Furthermore, he explained, "Daedong plans to unveil a Level 3 autonomous tractor by the end of this year," describing that "Level 3 autonomy means artificial intelligence (AI) proposes optimized farming methods in terms of crop planting depth and spacing and autonomously drives along the work path."

He added, "It is expected to be installed on high-end tractor models with over 100 horsepower, and since human intervention in tractor driving and operation will drastically decrease, replacement demand is expected to increase."

This content was produced with the assistance of AI translation services.