While more optimistic than they were a year ago, North American farm equipment dealers continue to acknowledge that booming machinery sales in 2018 probably isn’t in the offing. But the fact that their wholegoods inventory levels have improved significantly from a year ago is creating a more level playing field in which to operate.
North American large ag equipment sales are off to a good start for 2018. According to the latest numbers released by the Assn. of Equipment Manufacturers, large ag equipment sales were up 4% year-over-year in January, including low double digit growth in Canada and low single digit growth in the U.S.
In 2017, the total wholesale volume of agricultural machinery in Brazil reached 42,800 units. This is 1.7% higher than in 2016. It is the first year of growth after 4 consecutive years of retraction, according to data from the country’s National Assn. of Automotor Vehicle Manufacturers (Anfavea).
A growing appetite among farmers and custom operators for high-tech productivity solutions has resulted in a production milestone for agriculture’s most powerful row-crop tractor sooner than expected.
Despite ongoing concerns with low commodity prices, North American farm equipment dealers are far more optimistic about their business prospects than they were a year ago.
An effective response to a record order book for new sugar beet harvesters, together with continuing international sprayer sales recovery, helped French equipment manufacturer Exel Industries post record fourth quarter revenue growth.
Dealers specializing in selling compact tractors (under 40 horsepower) had another banner year in 2017 as U.S. and Canadian sales of the small equipment reached all-time highs.
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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.