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Power tools take a pounding. (Product Update)
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Purchasing
- Article date:
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October 22, 1992
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Copyright informationCOPYRIGHT 1992 Reed Business Information. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Power tool sales decreased in 1991 because tool users in the automobile, defense and construction industries refrained from making new purchases. Statistics indicate that sales went down by 7% to $2.26 billion. These figures are predicted to recur for 1992, as orders will not exceed 1%. Despite these conditions, manufacturers continue to produce and even create new tools for the market as competition between local and foreign makers remained strong.
Tool makers push new products even as buyers hold back
Sales of power tools plummeted in 1991 as buyers in automotive, defense, and construction put off new purchases. What's more, sales figures for 1992 are expected to mirror last year's ...
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