September 9, 2009
2nd Quarter Reader Survey: Continued Market Weakness, Business Upturn In 2010
Issue: 09.06
MUNDELEIN, Ill., September 9, 2009 - Manfredi & Associates, publishers of Machinery Outlook, recently conducted its second quarter survey of Machinery Outlook readers.
The second quarter reader survey pointed to continued market weakness. So far there are no signs of improvement. Equipment sales are expected to remain at the current low level for at least the next six months. Used equipment prices are declining and machine inventories are too high.
- Our Machinery Outlook readers reported that sales were significantly lower in the 2nd quarter of 2009 compared with the same period in 2008. 95% reported lower sales in the second quarter 2009 compared with only 78% that reported lower sales in the 1st quarter 2009.
- Readers were slightly more pessimistic about the outlook for the next six months than they were in the previous survey-69% expect demand to be weaker in the next six months compared with 61% in our previous survey.
- 51% of the readers reported that retail prices were weaker in the 2nd quarter compared to 33% that reported lower prices in the 1st quarter.
- Prices are expected to be lower during the next six months. 39% of our readers expect lower prices compared with 7% of our 1st quarter survey readers that expected lower prices.
- Our Machinery Outlook readers reported that used equipment prices are down significantly. 36% reported prices were down more than 20%. 41% reported prices are down 10% to 19%.
- The majority of respondents, 51%, are now reporting inventory is above average. This is significantly higher than the 29% that reported above average inventory in the 1st quarter of 2009.
- Readers reported that their rental fleet utilization remained low in the 2nd quarter of 2009, 86% reported lower rental fleet utilization.
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Founded in 1984, Manfredi & Associates is a leading market research and consulting firm that specializes in the construction, mining, farm and material handling equipment and related component markets. Manfredi & Associates has published the U.S. Construction Machinery Market Forecast for more than over 20 years. In addition to Machinery Outlook Europe, Manfredi & Associates also publishes Machinery Outlook. For more information, visit www.manfredi.com or www.machineryoutlookeurope.com.
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