Caterpillar CEO positive on rental future

Caterpillar chief executive officer Doug Oberhelman said the company would continue to push its Cat Rental Store network globally and that it would become an increasingly important facet of its business.

Speaking at Cat’s Bauma press conference, Mr Oberhelman said; “Around a third of assets [Cat equipment in the field] are now in rent to rent, and I can see that moving up 10 or 20% more in the next couple of years.

“We really have an opportunity to push this further. Contractors like [rental] because it removes a piece of risk from their business.”

He said he was unconcerned about the development of the Cat Rental Store network in Europe, where several major dealers, including Finning, Bergerat Monnoyeur and Pon Equipment, have sold or scaled back their Cat Rental Store operations in recent years.

Mr Oberhelman said such actions were related to economic conditions in Europe and that dealers would invest again when markets came back.