Sales are also up 5% for 9 months, with the quarterly and yearly increases primarily due to higher shipment volumes and price realization, partially offset by higher warranty costs.
Year-to-date unit sales of under 40 horsepower tractors were up 11% in the U.S. and almost 26% in Canada compared with last year, according to the Assn. of Equipment Manufacturers.
“Large agricultural dealers tend to have higher value late model large used equipment without the diversity of the market enjoyed by small agricultural equipment dealers," says Kim Rominger, president and CEO of the Equipment Dealers Assn.
Recent survey results show that landscape contractors’ appetite for purchasing power equipment has improved during the last quarter. Seaport Global Securities reports that 41% of landscapers plan to spend more on power equipment in 2017 compared to 2016.
Erratic business levels in recent years have tested OPE dealers’ ability to perform. See the numbers behind their performance in this analysis of the United Equipment Dealers Assn.'s Cost of Doing Business Studies.
The construction and industrial equipment segment and general tool rental segment are projected to achieve compound annual growth rates of 4.1% and 6.1%, respectively, between 2017 and 2021.
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