In 2010 Caterpillar machinery made profits for three consecutive months as the demand for construction equipments has rose in the North America.
North American in 2010 experienced an increase in demand of machinery; the need was highest in last four years sales figures.
For Caterpillar, the world’s largest manufacturer of machinery and construction equipment, 2010 was a happy year as the sales rose by 11 percent in a period of just three months that ended in May.
The May 2010 was the period when company enjoyed higher profits since 2008 as in 2008 the world wide sales for machinery and equipment grew by only 1 percent.
North American sales for machinery climbed 15% in May since last year. It was first increase in sales year over year since August 2006. Retail sales of machineries were down by 5 % in the month of April and may experienced further downfall of 21%.
Where the US market was dealing with low sales, Asia Pacific on the other side was with increased machinery sales. Around 38 % of sales grew for machineries in comparison to last years sales figures. For this reason Asia is Caterpillars strongest market. Asia is using more and more machinery and equipments due to new infrastructure projects and mining activities. To be more precise Caterpillar experienced major demands from China and India.
Other markets proved to be not much impressive to Caterpillar Machinery. Caterpillar Machinery experienced poor sales in European markets, though the market is strengthening up. Most of the markets those were affect with recession, demand came low for machinery and equipments and henceCaterpillar Machinery experienced poor sales. Notably markets Caterpillar got disappointed from markets like Middle East, Africa and Europe. The sales had seen a decline by 18 percent in March 2010.
Caterpillar Machinery struggles to improve sales figures, but things get worsen for the manufacturer.
Caterpillar also experienced a decline in sales in its engine business. as the sales of heavy duty trucks were down, worldwide Caterpillar engine sales were down by 30 percent.
About Caterpillar Machinery
Caterpillar is popularly known as CAT, related to designing, manufacturing and marketing of machineries and equipments. Caterpillar is also into offering various financial products and insurance. Caterpillar also holds the title of world’s largest manufacturer of mining and construction equipment and natural, diesel, gas and industrial engines.
Caterpillar ranks number one in its segment and 44 among Fortune 500 companies.