Caterpillar is celebrating the 10th anniversary of The Cat Rental Stores brand in 2008 by revealing some indications of the network's growth. Owned and operated by Caterpillar's independent dealer network, The Cat Rental Store network consists of over 1,400 stores with combined rental revenue in 2007 of more than $4 billion. The aggregated fleet includes $8 billion worth of Cat machines at first cost, and about $2 billion in allied equipment. Cat says the average fleet age is low — about 19 months — because dealers typically sell out of their rental-fleet inventories.
Colorado Caterpillar dealer, Wagner Equipment, established the first rental outlet 10 years ago. "Our plans are to support Caterpillar dealers in growing The Cat Rental Store network in every region of the world to reach 2,000 outlets in the 3- to 5-year time frame," said Jim Johnson, Caterpillar's manager of global rental and used equipment.