Poll: 69% of Construction Equipment Dealers “Very Concerned” About 2024 Election
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Several dealers mentioned concerns about rising taxes, regulations and tariffs under a Harris administration.
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With the U.S. presidential election only a few weeks away, many dealers and contractors are saying they’re concerned about how it might impact their businesses.
A recent website visitor poll from Equipment World revealed that, out of 57 dealer respondents, 68.4% said they were “very concerned” about the upcoming election, while another 26.3% said they were “somewhat concerned.”
This poll was open between July and August. Some results came in before Vice President Kamala Harris took over the Democratic ticket.Equipment World, September 2024.
The website poll was open between July and August, with some results coming in before Vice President Kamala Harris became the Democratic nominee.
When asked what the potential impacts of the election might be, some topics dealers pointed to include persisting high interest rates, increased government spending and tax dollars getting routed away from infrastructure. Several mentioned concerns about rising taxes, regulations and tariffs under a Harris administration.
According to one Case Construction dealer, “One presidential candidate's acumen is proven in the private sector and in the presidency, and the other is part of the existing administration that has gotten us in the position we're currently in.”
One respondent who is not a dealer but operates in the used- equipment space said, “Instability in a number of construction markets including LNG, pipeline, etc., combined with high interest rates, inflation and general uncertainty has slowed the purchasing and selling of equipment in the secondary market. Many of my customers are holding off until after the election to make large capital purchases unless it is a necessity for an upcoming job.”
Just over 91% of dealers said the upcoming election is impacting their customers’ purchasing decisions. Several referenced a “wait and see” mentality among their customers, who are concerned about how the election will impact interest rates, inflation and fuel prices.
One Kubota dealer said, “The economy is a mess, and customers aren't making large purchases.”