Daewoo's factory shipments to the global market have increased by 15 per cent from 15,500 units to 17,500 units this year.

In the South Korean market, the company managed to maintain more than 50 per cent market share and achieved sales of more than 5,000 forklifts. This was a slight decrease from last year, blamed on a market slow-down.

Sales in overseas markets totalled 12,500 forklifts, a 25 per cent increase from last year.

Daewoo, in a statement to Forkliftaction.com News, said it had increased sales in the USA and western Europe by 10 to 20 per cent. The company also reported major improvements in the emerging markets of Russia, the Middle East and China.

"We have set up a new production base in China in this year and it has already produced and sold 1500 units. We also have had successful cooperation with Crown, selling over 1,200 units in Oceania," the company said.

Daewoo is targeting a 14 per cent increase in sales next year, with 5500 units sold in the South Korean market and 14,500 units in overseas markets.

It also planned to introduce "completely new electric models" next year.

"We are sure that the new electric models will be interesting to customers who favour electric trucks and are sensitive about environmental-friendliness," the company said.

Forkliftaction.com News will publish a special end-of-year report, including commentary from world leaders in the forklift and materials handling equipment market, on January 1.