By: Rod Sutton, Editorial Director, Construction Equipment
Fleet managers report revenue growth far below forecasts made in our Annual Report and Forecast half-way through 2019. In fact, revenue growth is on track to be lower than 2018’s performance. Even so, equipment pros have expanded fleets and improved overall condition as expected.
Fleet condition was scored as either “excellent” or “very good” by 54.2 percent of respondents, up from 44.5 percent in 2018.
The percentage of respondents who have expanded fleet size matched the projections for the year, at 43 percent. The net expansion (the percentage reporting increases in fleet size minus decreases) at this point in the year is 33.6 percent, due to more reductions than expected. Although this is up from 2018, it trails the forecast of 38 percent. The fleet replacement rate, at 14 percent mid-year, is meeting expectations.
For the full story, please visit: https://www.constructionequipment.com/fleets-improve-slower-year
