Since XCMG Excavator announced the price increase of excavator products for the first time on April 10, many domestic excavator companies have followed up.
On April 13th, Lovol Engineering Machinery released the "Regarding Customer Notice", indicating that the price of small excavators will be increased by 10%, and the price of medium and large excavators will be increased by 5%. For this price increase, Lovol also said that it was mainly caused by the upstream and downstream supply chain crisis under the epidemic, but Lovol will continue to adhere to the "all customer-centric" business philosophy and create greater value for users.
The following is the full text of "Regarding the Customer" issued by Lovol Engineering Machinery:
Dear customers and friends:
First of all, thank you for your strong support to our company!
Due to the recent impact of the new crown epidemic situation and market conditions, the upstream and downstream industry chains have been greatly impacted, resulting in a substantial increase in our company's comprehensive operating costs.
As the vanguard of the construction machinery industry, Lovol Engineering Machinery, in order to ensure that customers are provided with continuous, stable and high-quality products and services, based on the business philosophy of "all customer-centric", after comprehensive research, the decision: to increase the price of small excavators 10%, increase the price of medium and large-scale excavators by 5%.
Hereby advise, please understand our customers and friends. Lovol Engineering Machinery pursues the establishment of long-term, harmonious, symbiotic and win-win cooperation with you. Only by working closely with you can we achieve the pursuit of creating greater value for you.
Specially informing!
Best regards!
Lovol Construction Machinery
April 13, 2020
