Tractor company realizes significant growth in North American markets
WENDELL, N.C. – Jan. 27, 2014 – KIOTI Tractor, a division of Daedong-USA, Inc., is proud to share its record growth results in 2013, which includes increases in overall market share, dealer acquisition and annual sales. With the expanding North American compact tractor market, KIOTI successfully expanded its market share in the United States, while KIOTI’s Canadian presence held its competitive position, maintaining a double-digit share of the compact tractor sector in a majority of Canadian regions.
In 2013, KIOTI expanded its dealer network, acquiring the largest amount of new dealers since becoming a direct distributor for the North American market. KIOTI also realized a sales growth of more than 10 percent, which is consistent with the company’s goal of achieving double digit annual growth”.
Other key milestones for 2013 included the addition of the EPA certified Tier 4 tractor models to KIOTI’s equipment portfolio. By adding the Tier 4 tractors, which are equipped with a Daedong® Tier 4 Eco Diesel engines, KIOTI became the first Korean manufacturer to receive Tier 4 EPA certification. Daedong Industrial Co. Inc., KIOTI’s parent company, also reported strong growth for the year across distribution networks in more than 60 different countries.
“Looking towards 2014 and beyond, we have specific short and long-term goals = to achieve. These include achieving a double-digit market share in North America by 2018, elevating KIOTI to become the number one eco-friendly farm machinery manufacturer globally and enhancing our dealer strategy to continuously increase partnerships,” said J.S. Kim, chairman of Daedong-USA, Inc. KIOTI Tractor Division. “We are happy to see we have already laid the groundwork to exceed these goals with our 2013 accomplishments.”
KIOTI plans to release additional tractor line-ups in the near future. In addition to placing an even greater focus on dealer partnerships, KIOTI plans to expand its presence in the North American market by continuing to offer best-in-class products, enhancements to the product and customer support department and investing in technology. Dealerships that are interested in learning how to become a authorized KIOTI Tractor dealer can visit the KIOTI website or the newly launched KIOTItier4.com website.