Source: Caterpillar
This article originally appeared on EquipmentWorld.com – a leading media site serving up the latest news in construction, heavy equipment, pickups and everything else that helps you get the hard work done.
It is re-posted with permission
Financed sales of new backhoes in the U.S. rose slightly year over year, according to Fusable’s latest EDA equipment finance data.
The two-in-one workhorse remains an important machine on constrained jobsites and utility projects. As such, new sales rose 3.7% to 2,487 units sold from June 1, 2023, to May 31, 2024. This compared with 2,399 units sold during the same period last year. (To view last year's report, click here.)
Despite the gains, the total market share for new financed backhoes fell as compact machines continue to grow in popularity. Backhoes accounted for just 1.7% of all new financed equipment sales, down from 1.9% the previous year.
With 36.4% market share, Cat overtook Deere as the top seller of backhoes during the period. Case CE had the third-highest number of sales. The top-selling new models, based on the number of units financed, were the Cat 420, Deere 320 P-Tier and Cat 420 XE.
Texas had more buyers of new motor graders than any other state, with 22% of total sales. Buyers were also prevalent in California (11%) and Pennsylvania (5%).
Meanwhile, used financed backhoe sales fell 8.3% to 3,337 units sold from June 1, 2023 to May 31, 2024, compared with 3,638 units sold. Used backhoes share of the market also dropped from 4.7% to 4.4% of all units sold.
Deere, Case and Cat maintained their strongholds year over year as the top three sellers of used backhoes. The most sought-after models were the Deere 310SL, Deere 310L, Case 580 Super N.
