Looking forward to the New Year, which regions or fields do you think will be the core driving forces for the demand of your company's equipment?
We expect demand in the southeastern and central-southern regions of the United States to continue to grow. Based on the population growth trend and a favorable investment environment, in the foreseeable future, Florida, Georgia, Carolina, Texas and Louisiana will remain high-growth regions for the demand of construction equipment.
How will the demands and feedback from customers affect the categories of equipment and attachments that your company plans to launch next year?
At present, as many as 15% to 20% of customers explicitly request to purchase equipment equipped with integrated machine navigation and control systems, and this proportion is still on the rise. Hyundai Doosan is deeply engaged in this technological field, and the related achievements will be showcased in the product lineup at the 2026 ConExpo in Las Vegas, USA.
Meanwhile, we are also actively responding to customers' demands for intelligent security functions. We are always committed to enhancing the safety protection level of operators and other personnel on the construction site while ensuring operational efficiency. For instance, high-performance lighting systems, reversing cameras and 360-degree panoramic monitoring functions are equipped as standard for the devices.
Mike Ross graduated from the United States Military Academy at West Point with a major in economics and has military service experience. After retiring, he devoted himself to the construction machinery industry for nearly 30 years, gradually rising from a regional sales manager to the product/operation director of a competing mainframe manufacturer. In February 2020, Mike Ross joined Hyundai Doosan as Vice President of Sales for Construction Equipment. During his tenure, he closely collaborated with Park Chan-seok, President and CEO of Doosan Engineering Machinery North America, to help the company smoothly overcome the challenges posed by the COVID-19 pandemic, steadily expand its dealer network, and promote the continuous development of its product and accessory support business. At present, he holds the position of Senior Vice President, fully responsible for sales, service, product and marketing work.
What roles will the emerging technologies such as automation, electrification, artificial intelligence and telematics play in your company's research and development and product launches?
Automation technology is accelerating its penetration into all industries, and Hyundai Doosan has been deeply engaged in research and development in this field for many years. Perhaps you still remember that at the past two International Construction Machinery Shows in Las Vegas, USA, we showcased remote automation operation technology, and our brand-new automation solution is about to be officially launched to the market.
Under the current policy environment, the promotion process of electric equipment in the United States has significantly slowed down, and the leading forces in related technology research and development and market application have shifted to Europe and Asia. As mentioned earlier, the market's attention to integrated telematics technology equipment is increasing day by day, and the demand is continuously rising. Hyundai Doosan is one of the first mainframe manufacturers in the industry to introduce telematics ready equipment. Nowadays, its bulldozer products are equipped with integrated machine navigation systems as standard.
In addition to the machine navigation system that can enhance the operational accuracy of operators (especially suitable for refined construction scenarios), the intelligent monitoring technology for equipment can also assist customers and distributors in promptly carrying out preventive maintenance and servicing, ensuring that the equipment is always in the best operating condition. The geolocation tracking function can optimize the efficiency of equipment fleet management and achieve anti-theft protection. In response to market demands, Hyundai Doosan is about to launch an upgraded version of its self-developed new-generation equipment fleet management system - Hi MATE system.
How will tariff policies, investment in infrastructure construction funds and macro political factors affect your company's strategic planning for 2026?
The uncertainties brought about by tariff policies and rate fluctuations have already affected equipment pricing. If this uncertainty persists, it will further impact equipment sales and cause customers to postpone their equipment update and replacement plans. Of course, we hope that market fluctuations can ease, thereby achieving stability in equipment prices.
At present, the funds for infrastructure construction have been secured. With the resolution of the government shutdown crisis, the funds will continue to be disbursed, bringing sufficient order volumes to contractors. The traditional infrastructure construction sector, as well as the supporting infrastructure construction market required for the development of the artificial intelligence industry and commercial real estate development, is expected to maintain a growth trend.
Do you think the tight supply chain situation of components, steel and electronic components will ease, continue to deteriorate or remain stable in the New Year?
We expect the supply of components, steel and electronic components to remain stable. Currently, there are no signs indicating that the prices of related components will rise further.
Looking forward to the New Year, what are your company's plans for the recruitment and retention of technical production talents?
Hyundai Doosan's production and manufacturing bases are all located overseas, so this issue has no impact on our business in North America for the time being.
How does your company ensure the quality of equipment supply, after-sales service and customer support through collaboration with the dealer network?
In the face of various challenges existing in the current market, many enterprises will choose to reduce the staffing of logistics support positions. However, Hyundai Doosan has always been committed to recruiting outstanding service and parts management personnel, as well as a professional technical training team. These personnel will provide professional training and support to the service and parts teams of the dealers, helping them better serve Hyundai Doosan customers.
Recently, we have successfully attracted many high-quality distributors to join our cooperative network in the markets of the United States and Canada. These dealers stated that choosing to cooperate with Hyundai Doosan is not only because of our high-performance and highly reliable equipment products, but also because they recognize our outstanding on-site technical support services. We have recently opened a new parts distribution center in Toronto, further enhancing our service guarantee capacity for the Canadian market.
Attracting high-quality distributors and increasing investment in talent cultivation and service capacity building will create more value for our customers in 2026 and beyond.
How are the constantly upgrading emission regulations and customers' sustainable development goals influencing the direction of your company's product research and development?
Although the implementation of the US Tier 5 emission standards has been put on hold, our product R&D teams in Asia and Europe are still continuously advancing the research and development of new engine platforms, dedicated to creating product solutions that integrate emission compliance, high efficiency and energy conservation, and outstanding performance.
Where do you think the main source of competitive pressure in the industry comes from - established mainframe manufacturers, emerging market players, or technology enterprises?
Established console manufacturers remain our main competitors. With the continuous reduction in the stock of imported equipment before the implementation of the tariff policy, all mainframe manufacturers, including Hyundai Doosan, will face certain price competition pressure. In the future, Hyundai Doosan will continue to focus on the construction of its dealer channels and work hand in hand with dealers to provide customers with first-class service support, thereby consolidating its market competitiveness.
Looking beyond the annual perspective, what's your judgment on the development prospects of the global construction machinery market in the next 3 to 5 years?
We expect that the global construction machinery market will show a stable operation trend in 2026. Due to factors such as the 3 to 9-month lag in government data release, the absence of some information caused by government shutdowns, and the continuous fluctuations in tariff policies, the industry's development will face certain challenges in the short term. Many manufacturers may accelerate the expansion of overseas markets outside the United States. However, we expect that as the related issues are gradually resolved, the development prospects of the global construction machinery market will continue to improve in the next 3 to 5 years.