- Used machinery is flooding the secondhand market, piling more pain on equipment makers battling slack demand amid a global slump in the value of everything from coal to corn, WSJ reports.
- Dealers, in turn, are keeping smaller inventories of new wheel loaders, backhoes and other machinery. That is hurting sales for Caterpillar (NYSE:CAT), Volvo (OTCPK:VOLVY), Deere (NYSE:DE) and other manufacturers.
- Rental businesses account for half of new equipment sales in the U.S., and some analysts see that climbing to 60% within five years.