According to AGCO’s 2023 annual report, the company brought in $1.4 billion in tractor sales last year, up 17.7% year-over-year. Revenue from replacement parts was up 3.8% year-over-year to $421 million.

Revenue from sales of grain storage and protein product systems came in at $614.5 million, up 4.9% year-over-year The largest year-over-year increase was in sales of combines, application equipment and other machinery, up 32.5% to $1.3 billion.

AGCO stated in the report that unit sales of tractors and combines decreased approximately 11.7% during 2023 compared to 2022. The primary driver was lower sales of compact and mid-range tractors. Consolidated net sales of tractors and combines, which comprised approximately 64.9% of net sales in 2023, increased roughly 1.7% in 2023 compared to 2022.

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