Caterpillar Sees Sales Declines In Asia And Latin America, Sales Down 12% Globally
Caterpillar Inc. (NYSE: CAT) reported a 12 percent global decline in machine sales in December. The figures were part of its rolling three-month sales report released on Monday.
The North America region’s sales were unchanged in December 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 recently traded at $85.95, up 0.4 percent.
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