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South American News: August 2024

August 15, 2024 | Posted in Ag Equipment Worldwide

Brazil’s Ag Machinery Sales Revenue Dropped 24.7% Year-Over-Year
No-tillage Machinery Focused Company Expands Factory in Argentina
Massey Ferguson Adds 2 New Dealerships in Argentina
CNH Suspends Major Production Line in Brazil

Used Equipment Inventory Eases, But Still Too Much Pressure on the Market

August 15, 2024 | Posted in Equipment & Equipment Sales

Used equipment inventories remain elevated. And while they are not as high as they were in 2023 and early 2024, Andy Campbell said it’s still too much pressure for this market to take.

Press Release

CLAAS Addresses Gap in Dealer Network

August 2, 2024 | Posted in Ag Equipment Business

In letters to customers, Ziegler Inc. recently announced their intent to close their Deforest and Dodgeville, Wisconsin stores and their Chillicothe and Marshall, Missouri stores.

Mid-Year 2024 Tractor & Combine Sales — US & Canada

July 15, 2024 | Posted in Equipment & Equipment Sales

U.S. mid-year equipment sales were down for compact and utility tractors, row-crop tractors and combines but up for 4WD tractors, according to data from the Assn. of Equipment Manufacturers (AEM).

Large Ag Retail Sales Down Double Digits

July 15, 2024 | Posted in Earnings Reports, Equipment & Equipment Sales

Large ag unit retail sales were down 14.6% year-over-year, with declines in row-crop tractors and combines more than offsetting a very slight increase in 4WDs.

U.S. Sales of Ag Tractors & Combines Decline in June 2024

July 11, 2024 | Posted in Equipment & Equipment Sales

Source: AEM

U.S. sales of Ag tractors and combines in June 2024 fell below reported sales from the same month a year ago, according to new data from the Association of Equipment Manufacturers (AEM).

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AGCO Reports $1.4 Billion in 2023 Tractor Revenue

April 15, 2024 | Posted in Data & Trends, Earnings Reports

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.

Large Ag Equipment Sales Up in 2023

January 15, 2024 | Posted in Ag Equipment Business, Data & Trends, Dealers & Dealerships

Combined U.S./Canada large ag equipment unit sales were down 1% year-over-year in December (vs. +4.4% in November, –8.9% in October and +6.1% in September).

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Deere Sees Rising Dealer Inventories, Mixed Early Order Programs in 2023

December 15, 2023 | Posted in Data & Trends

In its most recent earnings released Nov. 22, John Deere reported $61.3 billion in total net sales for its fiscal year 2023, up 16% year-over-year. Net sales in the fourth quarter were down 1% year-over-year to $15.4 billion.

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AGCO Reports $2.8 Billion in YTD North America Sales

November 15, 2023 | Posted in Earnings Reports

In its third quarter earnings released Oct. 31, AGCO reported almost $2.9 billion in North American revenue, up 21.7% year-over-year.

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AGCO Aims for $2 Billion in Precision Ag Business by 2029

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.

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