The spring quarterly benchmark report for the construction equipment industry, "Heavy Equipment Auction Market Trending", was released today by Penton's EquipmentWatch, a leading provider of database information products for the construction equipment industry.
"The first quarter saw a significant rise in auction sales activity, with the southeastern U.S. leading the way," said Garrett Schemmel, Director, Brand Management, EquipmentWatch. "Overall, we see a general increase trending in activity, which is a great sign for the market."
The "Heavy Equipment Auction Market Trending" report analyzes activity by price, region, manufacturer and equipment type, thereby providing a quick snapshot of industry trending by all major metrics. Key report findings include:
- Total sales of equipment were up 41 percent over the Winter 2012 quarter
- Southeastern U.S. dominated the auction landscape in Q1 2013 with a 79 percent increase in units sold compared to Q4 2012
- Caterpillar held onto a price premium across popular equipment types; however significant gains were made by both Case and Deere in several categories
The report is focused on data collected between January 1, 2013 and March 31, 2013, and analyzed in context using data drawn from EquipmentWatch's "The Last Bid" database of 1.4+ million records. "The Last Bid" is a guide to current auction values for used heavy equipment and trucks. Regions were selected based upon the Bureau of Economic Analysis standards and the 4-Region Canadian model.