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Heavy-equipment glut weighs on machine makers

Sep. 19, 2016 7:48 AM ETCaterpillar Inc. (CAT) StockCAT, DE, VOLVY, VOLAFBy: Yoel Minkoff, SA News Editor3 Comments
  • 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.

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