Caterpillar Sees Sales Declines In Asia And Latin America, Sales Down 12% Globally

Caterpillar Inc. CAT reported a 12 percent global decline in machine sales in December. The figures were part of its rolling 3-month sales report released on Monday.

The North America region’s sales were unchanged but the Asia/Pacific region was down 21 percent and Latin America was down 43 percent compared to the prior year period.

The Europe, Africa and Middle East region reported an increase of 2 percent.

Citi recently cut its price target on Caterpillar amid the company cutting jobs and closing plants.

Caterpillar Inc. recently traded at $86.15, up 0.63 percent.