Caterpillar has announced revenue for Q3 2024 fell 4% year-on-year to USD16.1 billion, which the company says is “primarily due to lower sales volume of USD759 million”. 

“The decrease in sales volume was mainly driven by lower sales of equipment to end users,” Caterpillar says in a statement. “In addition, changes in dealer inventories had an unfavourable impact to sales volume. 

“Dealer inventory increased less during the third quarter of 2024 than during the third quarter of 2023.”