Caterpillar: excavator sales in China fell 80% compared with the peak

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Night network, network nightlife Wall Street FRANCISCO 19 pm news, Caterpillar (caterpillar) is one of the representatives of American industry, is also a benchmark in the global economy。But Caterpillar is in an extremely difficult time, 2016 sales fell 5%, thus the unprecedented decline in sales for four consecutive years, IBM's footsteps step。  Caterpillar now for this once thriving Chinese market completely given up hope, including this year, next year or even the next few years, but also the entire industry bearish outlook。  This is not just a question of Caterpillar, but the entire industry are subject to the impact of economic slowdown in China, Caterpillar Group President Tom Pellette in the "Financial Times" interview, said the case。  Pellette mentioned Chinese market some very scary industry data: mid-2015 industry-wide sales of 10-90 ton hydraulic excavator may be 2.About 30,000 units, while in 2010 the Chinese market, the hottest time of sales five times higher, up to 11.20,000 (that is, this year, down 80% from 2010)。March 2011, the industry sold 2 month.70,000!More than the annual mid-2015。  That golden age after the financial crisis brought about by China's four trillion stimulus。"This shows how far we've had from the peak," Pellette representation。  September 24, Caterpillar has announced preparation for the arrival of winter, plans to lay off more than 1 million people, "consolidation and plant closures will continue until 2018。"Caterpillar has been proven to be a leading indicator of economic slowdown in China。Just when China's economic growth is still shine around the world, Caterpillar's sales in China had already began to decline。  However, despite the forecast decline in sales of Caterpillar himself, Pellette remains on the global market next year should show the optimism。He said: "My expectation is that the situation in China and the global market environment than in mid-2015 will be better。For China, we expect the market will pick up, but we do not expect to return to the level of mid-2011 to 2012。"(Tony compilation)

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