Industry News Roundup: Despite soaring revenue, Original Equipment Manufacturers face challenges

Original equipment manufacturers (OEMs) like Caterpillar, Komatsu, and John Deere all enjoyed soaring revenue in the past year thanks to constraining supply factors and expanded demand for their products. Sales were up sharply across sectors. In fact, used equipment and truck prices reached unprecedented levels in 2021. Our January Market Trends Report looked closely at equipment sales last year, with in-depth charts outlining volumes, median pricing, and more by asset category. But it wasn’t all good news for these manufacturers. OEMs are facing headwinds in the coming year for various reasons – from a COVID-related economic slowdown in China and increased labor costs, to customer lawsuits facing John Deere, the largest ag equipment producer in the world. As one of the largest sellers of used heavy equipment, Ritchie Bros. has its finger on the pulse of multiple equipment industries – construction, transportation, and agriculture, just to name a few. Here’s a roundup of recent news from the OEMs. READ FULL ARTICLE>>