EquipmentWatch Launches First Annual Lowest Cost of Ownership Awards

EquipmentWatch, data provider for the heavy equipment industry, has announced nominees for the first annual Lowest Cost of Ownership Awards. The awards are based on empirical data regarding the long-term cost of heavy equipment. Nominees are recognized within 15 categories for model series that exhibit the lowest cost of ownership during a five-year span.

Five-year total cost of ownership is calculated according to established Rental Rate Blue Book calculations and methodologies, leveraging Equipment Watch’s residual values and utilization benchmarking. These products provide detailed benchmarks and estimates spanning the economic life of more than 17,000 models across the spectrum of heavy construction equipment.

“There are two superlatives the heavy equipment industry looks at when it comes to optimal purchasing decisions – residual value and total cost of ownership,” said Garrett Schemmel, vice president, EquipmentWatch. “Our Highest Retained Value Awards program addressed the former, but until now no one has provided buyers with objective, third-party information regarding true cost of ownership. As the FHWA endorsed and publicly recognized standard for ownership and operating cost data, this new award was a natural extension of our mission to help contractors make informed business decisions.

EquipmentWatch will announce the Lowest Cost of Ownership Award winners at the first annual customer conference, Traction: The Data-Driven Heavy Equipment Conference, taking place Nov. 7-8 at the Loews Hotel in Atlanta. The awards luncheon takes place Wednesday, Nov. 8 at 12 noon, EST.

The 2017 finalists are:

Backhoes

Dozers Track Large

Dozers Track Small

Drum Compactors

Excavators Compact

Excavator Crawler Large

Excavators Crawler Medium

Excavators Crawler Small

Loaders Compact Track

Skid Steer Loaders

Loaders Wheel Large

Loaders Wheel Medium

Loaders Wheel Small

Motor Graders

Rear Dumps