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Breaking News

Caterpillar dealers post double-digit sales growth for summer

Categories: Top Stories, Dealer News | Author: Amy Volk | Posted: 9/21/2012 | Views: 428

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

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From the NAEDA Office

The Current Drop In Farm Equipment Sales NAEDA responds to AEM Advisor News.

In the Oct. 13 issue of AEM’s Advisor News, Charlie O’Brien, AEM senior vice president and ag sector lead, discussed “10 reasons not to panic about the current drop in farm equipment sales.” While I do agree with many of his observations and reasons, I feel a need to respond from the dealer’s point of view.

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