The number of financed new units of construction equipment sold or leased in March rose 14 percent compared with February, according to Equipment Data Associates, which tracks financed equipment activity. In March, 7,127 new machines were financed, compared to 6,147 in February.
In addition, the number of used equipment units financed in March was up 16 percent compared with February. During the month, 7,655 used units were financed, compared with 6,438 units in February.
Year over year, for the first three months of 2015, the number of new financed units rose 15 percent, compared with the same time period in 2014. In contrast, used equipment financed sales for the first three months of the year declined 10 percent compared with the previous year.
The top 5 new models in terms of finance units sold in March were all compact track loaders:
1. Cat 259D
2. Kubota SVL90-2
3. Bobcat T590
4. Kubota SVL75-2
5. John Deere 333E
In fact, the only new machines in the top 10 that were not compact track loaders were the Bobcat S50 and S590 skid steers and the Cat 420F backhoe.
John Deere Industrial Credit led all lenders for the month, financing 857 new units. Other top lenders include Caterpillar Financial Services (787 units), G E Capital Commercial (319), Kubota Credit (319) and CNH Industrial Capital America (226).
Editors note: Equipment Data Associates is a division of Randall-Reilly and tracks Uniform Commercial Code-1 filings submitted by lenders and financed equipment transactions.
