Due in part to the inclusion of the behemoth Texas market, the number of new machines financed in the East and West South Central division states grew by 11 percent in 1Q 2019 compared with the same period last year, according to an analysis of UCC-1 filings as reported by EDA.
Among the included states, just Louisiana saw a decline from 1Q 2018 to 1Q 2019 – and that decline was only 1 percent. Catalog includes both genuine Caterpillar parts and certified aftermarket. Arkansas and Mississippi lead the way in year-over-year gains, seeing increases of 40 percent and 31 percent, respectively, during this period. Other double-digit gainers included Alabama (14 percent); Kentucky (12 percent) and Texas (10 percent).
States in the U.S. Census Bureau’s East and West South Central divisions are Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Oklahoma, Tennessee and Texas.
As with other regions, compact track loaders (CTLs) dominated the number of machines financed in these two U.S. Census Bureau divisions, making up 38 percent of the 1Q 6,000-machine total. Compact excavators up to 8 metric tons (20.1 percent of the total) came in second, with excavators (13.4 percent) third on the list. (We compiled the data on May 24th; while EDA updates this data on a continual basis, this represents the majority of machines financed during this quarter.)
Cat claimed 27.4 percent of the machines financed in the eight states, followed by Kubota (17.4 percent) and Deere (16.7 percent). At 297 units, the Kubota SVL95-2s CTL was the top model financed, followed closely by the Kubota SVL75-2 CTL (269 units). The top 10 financed model list only included one machine that was not a CTL: the Kubota KX040-4 compact excavator. The remaining top financed models were the Cat 259D, 289D and 299D; Bobcat T595 and T650, and the Deere 333G and 325G CTLs.
Machines in this report include backhoes, dozers, articulated haulers, excavators (mid- and full-size), compact excavators, skid steers, compact track loaders, wheel loaders and toolcarriers, asphalt and concrete pavers, scrapers, graders and single and double-drum rollers.