Caterpillar sales on the rise

Caterpillar Inc., Peoria, Ill., said worldwide machine sales by dealers rose 8% in the three months that ended in August over last year compared with a 6% gain in the July period.

Cat said sales in North America spiked 5% in the latest period compared with 2% in the rolling three months ended in July. International sales were up 13% after posting a 10% increase for the three months leading to July.

Total sales of the company's engines rose 9%, which includes a 32% rise in petroleum-sector engines, a 24% gain in power generation, a 15% rise in industrial engines and an 18% increase in marine engines. Truck and bus engines fell 20%. Total engine sales rose 5% in the July period.

Dealer inventories were down 5% worldwide in August from last year, and off 2% in North America. Caterpillar expects to take about $150 million worldwide out of its inventories this year.