Caterpillar dealers post double-digit sales growth for summer

Categories: Top Stories, Dealer News | Author: Amy Volk | Posted: 9/21/2012 | Views: 388

Caterpillar Inc's (CAT.N) dealers reported a double-digit sales jump for the three-month period ended in August, partly due to strong sales in North America as customers replaced aging equipment. 

Retail dealers for the world's largest heavy equipment maker reported a 13 percent sales increase for the June-through-August period. The figure is down slightly from the 14 percent increase for the May-through-July period, the company said in a filing with the U.S. Securities and Exchange Commission.

Peoria, Illinois-based Caterpillar said dealer sales in North America -- where most of the company's revenue comes from -- were up 24 percent for the period, and dealer sales in Asia/Pacific -- the second-largest region -- were up 27 percent.

While the U.S. economy remains depressed, many construction firms are having to replace aging heavy equipment, boosting Caterpillar and its peers.

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Source: Reuters