Cat Retail Sales Down 17 Percent in August

September 21, 2016

Caterpillar's Form 8-K SEC filing today reported Cat's total world retail machine sales were down 17 percent year-to-year in the three months ending in August. North America sales were down 21 percent, a drop of 9 percent from June's 12 percent drop. Asia showed a 2 percent increase in sales, Europe was down 12 percent, and Latin America was down 35 percent.

In the construction industries segment, Cat was down 14 percent in North America but saw a 12 percent increase in Asia and the Pacific, bringing the total world construction sales to -9 percent.

The energy and transportation segment sales were down 25 percent on average, with oil and gas remaining down 26 percent, and transportation still down 35 percent.

Resource industries were down 39 percent worldwide, with North America down 42 percent.

In a separate press release, Caterpillar announced today that the company, its independent dealers and the Caterpillar Foundation plan to invest more than $1 billion in countries throughout Africa over the next five years.

Cat's investment is intended to provide a major upgrade in customer service capabilities including enhanced parts distribution capacity, new state-of-the-art Certified Rebuild Centers, new dealer branch locations, the expansion of Caterpillar’s Technicians for Africa online skills development program and millions of dollars to support programs that lift people out of poverty.

With approximately 15,000 Caterpillar and Cat dealer employees in Africa, Caterpillar already has a significant footprint in this important and growing market. Caterpillar’s investment will increase that footprint, while simultaneously boosting the infrastructure development and skills training capabilities necessary in African countries for them to continue their rise in global competitiveness.

Resource Industries Group President Denise Johnson has been named to the U.S. President’s Advisory Council on Doing Business in Africa (PACDBIA)