AGCO reported its earnings for the full year 2022 on Feb. 7, showing a record $12.65 billion in total revenue, $2.12 billion in South America revenue and $369.8 million in “work in process” (WIP) inventories.
For a dealership located in Cascavel, Brazil, one of the major Brazilian agricultural states, prompt delivery of machinery has not been seen since the pandemic started.
Brazilian farm equipment manufacturer Stara started construction on its second factory in Santa Rosa, Rio Grande do Sul, in 2021 and is now nearly two-thirds complete.
Indian multinational Mahindra announced a plan to open its second factory in Brazil due to the rapid growth in the Brazilian market. The company already accounts for 5.2% of the country’s tractor market.
On August 4, Ag Equipment Intelligence participated in a presentation alongside 4 equipment dealers to a group of dealers and farmers from Brazil that was on a weeklong benchmarking tour in the Midwest.
John Deere announced its financial unit in Brazil had collaborated on a new entity named InovaBra. The ownership of the new unit will be shared with Bradesco, one of the largest retail banks in the country.
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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.