Tractor production in the European Union, which accounts for more than one-third of the total industry sales, increased by 10% to 255,400 units in 2008.
The steep rise in worldwide commodity prices that started in late 2007 and kicked into overdrive by mid-year ’08 also fueled a dramatic growth the sales of farm machinery.
While manufacturers are hopeful of another solid year in 2009, the continuing deterioration of overseas economies will likely stunt profit growth the equipment makers saw last year.
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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.