According to an Oct. 14 report in the Wall Street Journal, it appears Deere & Co., as well as other major manufacturers of farm machinery are once again emphasizing equipment leasing to keep sales moving.
Overall, September was a solid month for retail sales of tractors and combines in the U.S. and Canada, according to the latest data from the Assn. of Equipment Manufacturers (AEM).
Titan International announced that on Oct. 3, 2019, through one of its wholly-owned subsidiaries, the company completed the sale of shares of Wheels India Ltd. in on-market trades on the National Stock Exchange of India Ltd. The sale reduces the company's indirect ownership interest in Wheels India from approximately 34.2% of the outstanding shares of Wheels India to approximately 23.8%.
Agrisolutions, a manufacturer of ground engaging farm equipment, opened its new 110,000 square foot facility in Rock Island, Ill. Their previous site, in Milan, Ill., was about one-fourth the size.
Mounting difficulties in recruiting to the agricultural industry is benefiting leading suppliers of milking equipment such as DeLaval as farms turn increasingly to automation to compensate.
Sales of large farm machinery sales posted double digit gains in August, but Canadian sales remained soft, according to the latest figures released by the Assn. of Equipment Manufacturers.
August 2019 saw increases in U.S. sales of self-propelled combines and 4WD tractors as well as total U.S. 2WD tractor sales compared to August of last year, according to the latest data from the Assn. of Equipment Manufacturers (AEM).
On Sept. 1, the Indian tractor manufacturer announced that its August domestic tractor sales had fallen 15% to 13,871 units, compared to 16,375 units in August 2018. Additionally, Mahindra reported that its tractor exports had also dropped 33% to 946 units in August 2019, compared to 1,410 units in August 2018.
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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.