Read our Quarterly Report Q4 2020Posted 01 March 2021
Despite the new and secondary equipment markets being affected by COVID-19 and a recession during 2020, the fourth quarter closed with positive results across all sectors. With an expectation that the markets will continue to strengthen in 2021.
- New road transport sector achieved 5 months of growth and is showing some certainty for strengthening results in 2021 across all segments.
- Caterpillar has seen full-year sales and revenues decline by 22% in 2020. One of the only positives to be found was in Asia pacific with the Resource industry going up by 8% highlighting that mining was less affected by the COVID-19 pandemic.
- The agricultural equipment market in Australia had a standout year. Highlighted with Tractor sales not seen since the 1980s with over 13,000 units sold in a one month period.
- The Automotive industry is grappling with stock shortages across the country; The VFACTS data shows 916,968 new cars were reported as sold for the 2020 calendar year – down by 13.7 per cent compared to the prior year, but a recovery from the 48.5 per cent decline in April 2020.
- Secondary truck, machinery and automotive assets through auction remained very strong this quarter with stock short for new assets prices achieved were positive.
- Luxury and recreation assets such as motorhomes, sports cars and boats have been popular. This is the result of the COVID-19 pandemic and Australian being unable to travel overseas for holidays, therefore have been purchasing luxury goods to enjoy their holidays at home.