As is typical during the month of February, financed sales of new and used equipment took a dip from January figures, according to information released by Equipment Data Associates.
EDA, a division of Randall-Reilly, which produces Equipment World, tracks and reports Uniform Commercial Code-1 filings on financed equipment.
There were 4,286 new financed units sold in February, down from 7,268 new units sold in January, a decrease of 41 percent. Used units for the month decreased to 6,819 from January’s 9,049, a downturn of 25 percent. These decreases mirror the January-to-February down ticks experienced last year, when there was a 40 percent decrease in new units sold, and a 19 percent decrease in used units.
Since the year 2000, both the number of used and new financed units sold have decreased by varying degrees from January to February.
Top equipment buyers for the month were:
- A Wisconsin utility construction company, buying 23 Cat excavators and 22 Cat dozers.
- A Texas rental and leasing firm, which bought 38 Doosan light towers.
- A Indiana tree service firm that bought 25 Terex aerial lifts.
- A Texas aluminum sheet plate and foil firm, which bought 25 Cat machines, including 11 skid steers and seven wheel loaders.
- A Texas electrical firm buying 20 Cat machines, including 12 excavators, six dozers and two rough-terrain forklifts.
Caterpillar Financial Services led top lenders, with 1,286 units financed, followed by John Deere Industrial Credit, with 812 machines. Other top lenders included Kubota Credit, 480 units; G.E. Capital Commercial, 471 units; and CNH Industrial Capital America, 359 units.