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FOR IMMEDIATE RELEASE:

CONTINUED DECLINE OF OPE SHIPMENTS IN 2001

Alexandria, VA, August, 2001 -- The Outdoor Power Equipment Institute (OPEI) Economic Forecast for consumer equipment and commercial turf products, revised in August 2001, shows a continued decline in shipments for the 2001 model year. Such variables as poor stock market performance, energy shortages and higher gasoline prices have impacted the industry. All corporations, high tech and other have had dismal profit reports, resulting in a large number of layoffs. One positive note, the tax cut and expansionary Federal policy will help begin the economic healing.

Currently, walk-behind mowers are forecast to fall by 9.0% for MY2001, while all riding units (rear engine, front engine and garden tractor) will fall by 12.4%. Most products are expected to rebound, but the recovery will be slow.

This summary information is extracted from the Outdoor Power Equipment Institute's (OPEI) Economic Forecast for the Outdoor Power Equipment Industry, updated in April 2001 to reflect OPEI's estimates of total shipments for model years 2001 and 2002. The complete forecast, based on an economic model developed by Association Research, Inc. (ARI), provides shipments data, by quarter, for each of the following OPE segments:

• Walk-Behind Power Mowers
• Rear-Engine Riding Mowers
• Front Engine Lawn Tractors
• Intermediate Size Commercial Walk-Behind Mowers
• Tillers
• Commercial Riding Turf Mowers

Additionally, information provided to the OPEI membership includes a comprehensive discussion of assumptions about the U.S. economy and their relationship to the outdoor power equipment industry.

The table provided shows the forecast for OPEI model years 2001 (September 2000-August 2001) and 2002 (September 2001-August 2002). For example, the shipments of front engine lawn tractors for the 2002 model year are expected to be 2.8% higher than 2001.

Download the OPEI's Economic Forecast For Estimated Total Shipments For Model Years 2001 & 2002. Available as an Adobe Acrobat Document (.pdf):

• Download Now (72k)

OPEI is a trade association whose membership is primarily composed of U.S. manufacturers of powered lawn and garden maintenance products, components and attachment supplies, as well as industry related services. OPEI's domestic members manufacture in excess of 95% of the U.S. consumer retail market for gas and electric powered lawn and garden maintenance products.

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