The sluggish housing market and rising gas prices has trimmed the market for riding lawnmowers, industry analysts say.

Kris Kiser, spokesman for the Outdoor Power Equipment Institute in Alexandria, Va., told The Washington Post the riding mower industry is deeply troubled by the decline in housing starts, among other things.

New home construction is a good barometer for us. But you add foreclosures, decline in housing starts and the decline in housing sales, and you have the trifecta, Kiser said.

At Smith Equipment in Warrenton, Va., sales of high-end riding lawnmowers have fallen by about a third in recent years.

There were a lot of people using up home equity to buy Lexuses and $8,000 lawn mowers, said company director Bryant Smith.

Copyright 2008 by United Press International


Publication date: 19 July 2008   

Source: UPI-1-20080719-18400400-bc-us-ridingmowers.xml

Archive