First quarter sales surge for CNH Construction
By Helen Wright26 April 2012
CNH - the parent of Case and New Holland - reported first quarter construction equipment sales of US$ 1 billion, up +41% compared to the first three months of 2011.
Increased sales and production volumes, together with improved product pricing, led to an operating profit of US$ 34 million, reversing last year's first quarter loss of US$ 17 million.
CNH said it had seen market improvements in every region and especially in North America, where sales more than doubled compared to the same period last year.
"First quarter market share was up in light equipment as the new products introduced in 2011 continue to be well-received by customers. Market share in the heavy equipment segment was in line with the market trend in every region with a gain in the Latin American market," the company said.
For the full year, CNH said it expected worldwide construction equipment markets to remain positive, with industry retail unit sales up +5% to +10%.