EquipmentWatch is proud to announce the winners for the 2020 Highest Retained Value and Lowest Cost of Ownership Awards (HRVA and LCO). Deere, Caterpillar, and Volvo had strong showings in both award categories, but many new entrants exhibited excellence performance, and round out a banner year for OEMs. In an environment marked by increases in rental volumes, and in companies facing a rent vs. buy decision, these awards enable you to make informed decisions on which models will maintain their value the longest and exhibit the lowest O&O costs.
The awards cover 50 categories of construction, lift/access and agricultural equipment, and are powered by EquipmentWatch’s industry-leading database. “The EquipmentWatch Awards program is the culmination of months of work by the best data analysts in the business, evaluating millions of value and cost datapoints,” explains Michael Quinlan, Jr., Manager of Data Structuring. “That impartial, unbiased detail reinforces the trust our customers have come to rely on from EquipmentWatch.”
“We’re proud that the EquipmentWatch Awards serve as a de facto buying guide for the industry,” notes George Buckley, Director of Marketing. “Buyers know what class and size they need for their fleets, but the Highest Retained Value and Lowest Cost of Ownership designations give them the objective validation they need to select each model with confidence.” Recognizing a record 25 different manufactures across the 50 categories indicates the competition was tight for 2020. “That diversity gives all the manufacturers an opportunity to showcase their equipment,” adds Buckley. “We see a number of repeat winners year after year, but the objective data show strong competitors emerging with high-quality, efficient and cost-effective machines. They deserve this recognition and the buyer consideration that comes with it.”
Rooted in many hours of detailed work from the EquipmentWatch analyst team, these awards are among the most significant activities we undertake each year. The awards confer numerous benefits to equipment buyers, manufacturers, and rental houses, including:
- HRVA and LCO allow equipment buyers to choose machinery with confidence.
- Purchasing the right equipment helps a contractor operate most efficiently to maximize profitability.
- Manufacturers with lesser name recognition can validate their quality and durability and compete with bigger brands.
- Rental houses can buy equipment with the highest residual value for maximum returns on disposition.
Find out more about the winners:
And read our official press release here.