As overall U.S. retail sales continue to spiral upward, so do the fortunes of rural lifestyle equipment dealers. The ongoing strength in consumer and commercial markets is further borne out by a recent survey of North American landscape contractors.
Outdoor Power Equipment (OPE) manufacturers are continuing to improve their status with dealers, according to the 2018 Equipment Dealers Assn.’s (EDA) 2018 Dealer-Manufacturer Relations report.
Thirty-seven percent of contractors indicate that they will purchase more new equipment, while 27% indicate they will purchase more used equipment in 2018, according to a report from the Equipment Leasing & Financing Foundation.
For 2WD tractors, June U.S. sales in the 100-plus HP category increased 16%, under-40 HP tractors grew 15%, and 40-100 HP 2-wheel drive tractors gained 4%.
Sales of commercial and consumer equipment, 2WD tractors less than 100 horsepower and hay tools showed sales increases in May compared with April. Sales of hay tools have increased year-to-date.
The study, commissioned by the Equipment Leasing & Finance Foundation and prepared by ORC International, indicates that the all-time high in construction spending in 2017 will carry through in 2018, with predicted U.S. construction industry growth of 5%.
Total U.S. sales of 2WD tractors for May gained 17% compared to May 2017, bolstered by gains of 20% in both the 100-plus horsepower and under-40 horsepower categories, according to the latest data from the Assn. of Equipment Manufacturers.
The Bureau of Economic Analysis reports disposal personal income reached an all-time high in April 2018. However, the recent monthly consumer sentiment report from the University of Michigan showed the lowest reading in 4 months.
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