Over 48,300 new and used machines in the top 11 types of construction equipment* were financed during the first quarter of 2024, according to Fusable’s latest EDA finance data, a 4.5% bump over the same period last year.
Depending on the type of machine, financed machines can represent 40 to 75 percent of the total number of machines of that type sold in the United States. EDA does not track machines bought by cash or letter of credit. Buyers of higher priced equipment, such as dozers and excavators, tend to use financing.
To see full-year sales of new and used construction machines in 2023, check out our previous coverage:
Compact units, with their lower prices and popularity across multiple segments, dominated the top financed new models sold in the first three months of the year. The most popular models were:
- Bobcat MT100 mini track loader, 1,064 units
- Cat 259D3 compact track loader, 775 units
- Bobcat T770 compact track loader, 672 units
- Bobcat T66 compact track loader, 669 units
- Deere 325G compact track loader, 663 units
The compact track loader continued its reign when it came to top financed used models sold. The best-selling models included:
- Deere 333G compact track loader, 242 units
- Bobcat T770 compact track loader, 169 units
- Cat 259D compact track loader, 159 units
- Kubota, SVL75-2 compact track loader, 157 units
- Cat 259D3 compact track loader, 155 units
The top equipment types, in terms of the number of machines financed, both new and used, were:
- Compact track loaders, 15,553 units
- Mini excavators, 10,267 units
- Excavators, 6,178 units
- Skid steer loaders, 4,050 units
- Wheel loaders (not including tool carriers), 3,565 units
The top states financing new and used equipment were:
- Texas, 5,656 units
- Florida, 2,761 units
- Georgia, 2,280 units
- North Carolina, 2,071 units
- Missouri, 1,964 units
[Related Content: Contractors Reveal Their Equipment Buying Plans for 2024]
EDA data is compiled from state UCC-1 filings on financed construction equipment. EDA continually updates this data as information comes in from each state. As such, these numbers may have fluctuated since this data was pulled in early May. EDA and Equipment World are owned by Fusable.
*Machines included in this report include dozers (both standard and LGP), articulated haulers, excavators, compact excavators, skid steers, compact track loaders, wheel loaders (both standard and toolcarrier), scrapers (both conventional and elevating), graders and backhoes. All figures include sales, lease and rental.
In the market for a new machine? Explore our Buyer’s Guides:
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- Compact Track Loaders: A Rundown of the Latest Models
- The Latest in Dozers: New Models, Upgrades on the Way
- Getting Easier for Operators: A Rundown of the Latest Wheel Loaders
- Compact Wheel Loaders: The Latest Models and How to Choose the Right One
- “Backhoe Renaissance”: They’re Getting Better at What They Do Best
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