Two of India’s largest manufacturers of farm tractors report that domestic sales were off year-over-year in April and, for the moment, the outlook remains “cloudy” for the remainder of 2019.
According to a report in New China (english.news.cn), Russia is planning to allocate 3 billion rubles ($46 million) to upgrade the country’s ag equipment and to reduce the financial burden on lessees.
After facing complaints from farmers and ag machinery companies about the scarcity of credit, Brazil’s National Bank for Social and Economic Development (BNDES) announced that it would make an additional R$536 million (approx. $135 million) for the acquisition of agricultural machinery and implements during 2018-19.
AGCO used one of Brazil’s largest and most popular ag equipment exhibitions, Agrishow, to announce the company will begin selling Fendt machinery in Brazil.
As follow up to Farm Equipment’s earlier report and Ag Equipment Intelligence’s post “Chinese High-Tech Promises Challenge for Farm Machinery Makers,” a May 13 report confirmed that the development work is being carried out on an 11 hectare field in Hongwei Farm, Heilongjiang province.
During its participation at Expodireto, a rural show held in the Northwest of the state of Rio Grande do Sul, John Deere announced that it had manufactured 13,824 wheel tractors in Brazil in 2018, reclaiming its top spot as the leader in the Brazilian market.
The latest report from Brazil’s Anfavea reveals that year-over-year tractor sales in March fell by 1.3% to 2,823 units but increased 44.5% vs. February.
After making major strides in increasing sales in the U.S. and Canada, LS Mtron, the South Korean-based manufacturer of the LS brand of compact and mid-range tractors, is eyeing Brazil as its next target for growing revenues.
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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.