Several publicly held ag equipment manufacturers reported increasing their advertising spending year-over-year in 2023. Among manufacturers that list their advertising expenses in their annual filings, Alamo Group showed the largest year-over-year increase, up 112.8% to $23.2 million.
Among the majors, Deere reported spending the most on advertising at $244 million, while AGCO reported the greatest year-over-year spending increase at +11%.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at AGCO’s plans for its precision business and its 2029 targets. In the Technology Corner, Noah Newman talks with Eis Implement’s precision team. Also in this episode, the interest savings dealers could see with the latest rate cut by the Fed and a look at the used 100+ horsepower tractor market.
