is the construction industry slowing down or is just no one buying brand new machines
Currently I'm swamped. 4 projects currently going on - a condo building, 23 lot street and 2 chain restaurants. Getting plans for two more 25 lot subdivisions this week and 2 more chain restaurants this summer. With that being said I don't plan on buying any new equipment this year other than possibly a new CTL. If our T250 keeps going I'll push that purchase farther off as well. The new equipment is so much more expensive to purchase and with the emissions systems on the new equipment I just don't get excited about new iron like I used to. Personally I don't have solid confidence that the construction market will continue to expand, couple that with an election year and I'm being very conservative spending money. Just my $.02.
Word I hear out here West of the Rockies is that things are moving nicely. YMMV
How about Cat closing 5 us plants?
Cat is restructuring everything just like the auto makers have. They are playing the give us a tax break we will move here. They are also outsourcing work. Plus with the end of the over the road trucks, there is some idling of facilities as well.
yeah and cat is where I work so that's the concern is I no new machines being bought means im not needed
We usually see a bit of a slow down on the election years, this year is booked pretty full which is a really good thing, have to see what happens in november as to how next year goes.
who would make a better choice for the industry not to be effected
The mining and oil industry decline has hurt all the equipment manufacturers. They aren't selling the big ticket items as they were and the smaller equipment even with an uptick in sales isn't enough to fill the void.
ill take a very good note form this tho never quit during a election year if your job pays well and don't try and start a business during it either
Wise advise.
Any new president will slow the market down for a year or two. Most businesses seem to panic, and hold off on any expansion for a year or two.
Last October when we spent 4 days touring Peoria Cat the main assembly building where they build D6, 7s, 10s, and D11s were down to one shift 5 days a week. They had been running around the clock 24/7 in the past. Half the assembly bays were still empty. If it wasn't for a bunch of military D7s it would have been at a near standstill. Worldwide sales are down on large equipment for all makers.
demographic trends add to market challenges, as the construction industry’s age profile grows older with the number of youth entering the industry restricted and retirements increasing.
Don't know how the figures stack up now but Cat had string of decline in retail sales world wide (something over 30 months in a row) worst than the ever, even worst than the depression. Oil is off in south Louisiana ( our main market) but also decline in farming and repairs. Hoping for better but bracing for the brick wall effect.