Exports could drop slightly in the coming years as local production is to be increased through political measures in important sales markets such as Russia, China and Brazil, according to VDMA Agricultural Machinery Assn. based in Frankfurt, Germany.
Off-road tire maker, Titan International, confirmed that it is laying the groundwork for a cooperative venture in Russia. It also added an “I told you so” about the current tire supply that sent its stock price into a dive.
With a 27% “bump” in unit sales in May vs. a year earlier, it appears that the prospects for compact tractors are improving significantly following 5 years of relatively flat sales.
North American sales of ag machinery continued to see upward growth in April, with row-crop tractors and combines leading the way with a 26.7% and 63% increase year-over-year, respectively.
While European farm tire manufacturers target North America for growth, Goodyear Tire & Rubber Co. has given up on its production facilities in the European agricultural market as it proposes to close a manufacturing facility in France with the loss of 1,200 jobs.
First quarter sales revealed a negative trend domestically for Italian tractors, other self-propelled machinery and trailers, continuing the downward trend of the last 5 years, according to Italy’s FederUnacoma. Combines, however, showed positive growth for Italian equipment manufacturers.
North American sales of ag machinery continued on its upward trend in March with strong growth, as reported by the Assn. of Equipment Manufacturers. According to Mircea (Mig) Dobre, machinery analyst with RW Baird, U.S. and Canada ag equipment retails sales grew across nearly every category as it has during the past several months.
Italian engineering group Carraro had a double celebration when it secured a new contract with AGCO and reported improved financials for its mechanical engineering business units.
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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.