Doosan Bobcat sells 1,400 tractors in North America in 5 months

Doosan Bobcat sold 1,400 compact tractors in North America from January to May and on track to meet its target of 3,000 units this year.

The company credited its successful entry into the North American compact tractor market to the good performance of its products and its various financial programs for buyers.

Doosan Bobcat, a South Korean manufacturer of farm and construction equipment, advanced into the market in September last year after signing an equipment manufacturing deal with South Korean tractor maker Daedong Industrial Co. in 2018.

Doosan Bobcat is aiming annual sales of 300 billion won, or 10 percent share, in the North American compact tractor market by 2025.

The North American market is estimated to require 170,000 units annually.

South Korea's leading construction heavy equipment maker Doosan Infracore Co. owns 51 percent of Doosan Bobcat.

With cash-strapped Doosan Group selling its stake in Doosan Infracore to repay debts, market watchers are observing whether Doosan Infracore's stake in Doosan Bobcat would be available.

Doosan Infracore acquired Bobcat from North Carolina-based Ingersoll Rand PLC for 5.94 trillion won in 2007.