Financed construction equipment sales increase 11 percent in August

Marcia Gruver Doyle Pix
Consumption of new construction equipment in August is forecasted to increase by 5 percent from August 2011.Consumption of new construction equipment in August is forecasted to increase by 5 percent from August 2011.

August financed new construction equipment sales saw an upswing of 11 percent  from July in number of units sold, reports Equipment Data Associates, a division of Randall-Reilly. The August figures reflect a 4 percent increase from the number of new units sold in August 2011. 

Used construction equipment financed for the month increased 4 percent from July, but show a 10 percent decrease from August last year.

The heavy construction equipment segment saw an 11 percent increase in the number of financed units from August to July, but was down 6 percent when compared to August 2011. Compact equipment financed sales trends were muted, with numbers decreasing .02 percent from July to August, and showing a 1 percent increase from last year.

Looking at year-over-year trends,

Consumption of new construction equipment in August is forecasted to increase by 5 percent from August 2011. The August unit count of 5,351, however, is 27 percent below the previous 10 year average of 7,365 units. 

Top construction equipment lenders for the month were John Deere Industrial Credit, financing 3,358 units and Kubota Credit, which financed 2,100 units.

EDA tracks Uniform Commercial Code filings throughout the United States, providing a picture of buying activity in several markets, including construction, trucking, agriculture, lift trucks and logging.