EDA Insight: New August financed equipment sales up
| October 24, 2012
The number of financed new units of construction equipment sold or leased in August increased by 9 percent compared with July, according to Equipment Data Associates, which tracks financed construction equipment activity. August figures show 5,336 units financed, compared to 4,826 units reported in July. Compared to August, 2011, the number of new financed units sold or leased is up 28 percent.
Used equipment activity showed a 5 percent increase in the number of units financed, or 6,715 units, compared to July’s 6,373 units. Compared to last year, the number of used financed units reported increased 7 percent.
The top three new equipment lenders in terms of number of units financed for September were Caterpillar Financial Services Corp., John Deere Industrial Credit and GE Capital Commercial, Inc.
The August tally reflects an estimated 90 to 95 percent of Uniform Commercial Code financing activity. EDA is a division of Randall-Reilly, which produces Equipment World magazine.