Depending on the country and size of the equipment, global sales of farm machinery through much of the first half of the year are best characterized as “uneven.”
North American large ag equipment sales continued to decline in June, with 4WD tractor sales down 24.1% from last year, combine sales down 25% and row-crop tractor sales down 16.1% according to the latest figures released by the Assn. of Equipment Manufacturers.
North American large ag equipment sales were down again in May, with 4WD tractor sales down 14.4% year-over-year, combine sales down 24% and row-crop tractor sales down 15.9%, according to the latest figures released by the Assn. of Equipment Manufacturers.
North American large ag equipment sales continued to decline in April with 4WD tractor sales down 12.3%, combine sales down 12.7% and row-crop tractor sales down 13% year-over-year, according to the latest figures released by the Assn. of Equipment Manufacturers.
North American large ag equipment retail sales fell in March, with 4WD tractor sales down 6.4% year-over-year, combine sales down 23.9% and row-crop tractor sales down 9.5%, according to the latest figures released by the Assn. of Equipment Manufacturers.
North American large ag equipment retail sales fell in February, with 4WD tractor sales down 14.1% year-over-year, combine sales down 15.2% and row-crop tractors down 6.4%, according to the the latest figures released by the Assn. of Equipment Manufacturers on March 11.
Cervus Equipment, John Deere’s biggest ag equipment dealer group in Western Canada, saw a 23% jump in revenues for 2013, but margin pressures pushed net profits down by 1.3% for the year.
Few will argue with the fact that the very generous depreciation rules for farm machinery introduced in 2008 have played a significant role in the protracted run of strong sales years for ag equipment dealers and manufacturers.
In addition to concerns about falling grain prices, several other factors could affect farm equipment sales in 2014 and possibly beyond, according to a recent note from analysts at RW Baird.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.