Question-and-Answer Session
Operator
Thank you. (Operator Instructions). And we will take our first question from Seth Weber with Banc of America. Please go ahead.
Seth Weber - Banc of America
Hi, good morning. Good morning, everybody. I guess, John, I struck by the used equipment sale number was well below what's been trending for the last couple of years or couple of quarters at least anyway. I know that there is some de-fleeting going on there, but would you prefer to see the number higher or is that kind of a number that you think you are going to settle out at year going forward. And is there some, I mean it sounds like there is a lot of de-fleeting going on across the industry, so it just choosing not to sell equipment at depressed prices or maybe you can just tell us what you are looking there?
John Engquist
Seth, we could accelerate our used equipment sales by the auction prospects but what I am saying in pricing that doesn’t make sense to me. We got our exceptionally strong balance sheet, tremendous liquidity, no covenant issues and I don’t see a need for us to give fleet away. With that said, demand just weak, nobody is making a lot of capital expenditures, so it's impacted our retail sales significantly. We are going to push hard. We are trying to see some margin contraction not probably we will, but you are seeing a lot of the rental players really go to auction route in a big way. That's our game plan at all we are not going to give product away because I don’t think we have to.
Seth Weber - Banc of America
Okay. And if you are looking at a net CapEx number, I don’t think you have given guidance but seeing net CapEx is a negative number or zero for the year. Can you talk about where you think your fleet age would come out?
John Engquist
Sure. We are at 34.5 months. Today, I would think we would approach 40 months by the end of the year. I don’t think it will go past that.
Seth Weber - Banc of America
Okay. And you said you added some cranes to the rental fleet this quarter, was that just stuff you had contractually obligated to do or do you see demand. Is there are other certain projects where you still feel like you have demand for the large cranes.
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