Throughout the economic phase of the COVID-19 crisis, much of the conversation has been around the construction sector. Governments talking about infrastructure spending set to be a major driver of recovery, the sector still working while many in lockdown, housing price slump, the future for tradies and the housing construction sector and in large scale projects, the China trade issues has raised other questions. The HomeBuilder program looks set to give the sector a boost and state governments are pouring billions of dollars into building programs.
Whatever your opinion on what the road ahead holds, it is quite clear that construction is receiving a lot of attention. So what equipment do you need to ensure you’re set to give your own business a boost?
The Instant Asset Write-Off offer in May was welcomed by many and now it’s EOFY. EOFY is the time when many dealers are offering the best prices so what better time to start looking for a great deal.
So what’s new and what’s on offer, we took a browse around to bring you a few ideas:-
- Since Komatsu released its Intelligent Machine Control a few years ago, the take-up of this technology has been impressive and reports are now emerging of users realising great gains in productivity and efficiency.
- From Volvo, we found another efficiency machine. The EC300E hybrid excavator is an eco-friendly machine that the manufacturer claims can produces less emissions and reduce fuel consumption.
- John Deere has also recently rolled out some new equipment – the G-series skid steers. The new models add to the existing 5 models in the range but include significant feature upgrades aimed at productivity increases.
- The industry’s favourite, Caterpillar has also recently announced new releases in the backhoe loader range. The new models replace the F2 range. These new additions include change some improvements and changes including a 4-speed powershift transmission.
- CASE is also in the news releasing the DL550B dozer load. A compact dozer load which is fully integrated. Suitable for loading and grading - could be worth checking out.
- The use equipment market remains robust with many good listings on the various online marketplace sites.
While the manufacturers do the unveiling of new products, it’s usually at dealer level where you’ll source the great EOFY deals. With most trade shows and field days off the agenda due to coronavirus restrictions, you’ll likely have to do your own research as to what’s available from your local supplier.
The Outlook
Mid-year is a good time for a general business review to coincide with EOFY or SOFY (start of financial year) whichever you prefer to mark. But 2020 is not quite a normal year. COVID-19 has changed many aspects of both our personal and business lives. In 2020, mid-year has more significance as it is when the Prime Minister and Treasurer are due to review the results of the stimulus packages implemented in March and decide what else needs to be done.
It has been widely discussed that packages will be introduced to target key sectors which will still require assistance through the recovery phase. This is worth you keeping an eye on as it may indicate more work for you in some areas. To get a holistic view of business, we need to look beyond our own operations and into what’s happening with our customers. That’s where the work will be coming from.
We are pleased to have experienced an uplift in business in recent months and as each first Tuesday of the month Reserve Bank board meeting passes, it is looking more and more likely that low interest rates will be with us for some time.
One economic reporter recently wrote for rates to go into negative territory. But Reserve Bank Governor, Philip Lowe, has quite often mentioned that he didn’t intend to take rates any lower.
So at Jade Equipment Finance, we’re still ideally placed to source you cheap construction equipment loans at the best interest rates including financing CAT equipment such as those above. We continue to work closely with our lender panel to deliver quality, workable financial solutions for all sized businesses.
To discuss equipment finance, contact Jade Equipment Finance 1300 000 003 and talk with our consultants.
