New stock levels are still low and market demand is manifested in a levelling of prices across Europe and even with stocks available, many buyers are unwilling to purchase large fleets. The cost of new equipment is up 20% on June 2009 and the second-hand market is getting stronger, reviving demand for good used equipment across the globe.
Euro Auctions MD Jonnie Keys provides a snapshot of the global market for heavy plant and machinery. Much has changed in the global market for used heavy plant and machinery in recent months An earthquake and tsunami has devastated large areas of north-east Japan, while unrest and conflict have spread across North Africa and the Middle East.
The first half of 2010 saw a number of surprising trends in the used plant and machinery sector, with manufacturing of new plant still on hold and the price of year-old machinery strengthening. In the last six months, the market strengthened due to dwindling stocks in the UK and Europe, and a lack of new or less than 12-month-old equipment coming onto the market.
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