Latest industry Trends Watch:
Spader Online Services
Advertise with NAEDA > >
Follow us on Twitter > >
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.
The NAEDA Board of Directors has named Richard E. “Rick” Lawhun president and chief executive officer, effective Jan. 1, 2014. Lawhun has more than 30 years of experience with demonstrated leadership in strategic planning, program development, membership growth and financial management.