Europe’s farm equipment manufacturers are still investing in production and sales, service and distribution resources despite the current slowdown in European and other farm equipment markets around the world.
Congress is reportedly close to a tax deal that would encourage more investment in plant and equipment by allowing companies to depreciate 100% of most asset investments in 2011.
North American sales of farm combines and 4WD tractor comparisons continued at a robust pace in October, which is a seasonally important sales month for large ag equipment, according to the latest data released by the Assn. of Equipment Manufacturers.
Diesel engine maker Deutz has secured a memorandum of understanding from its biggest shareholder, Same Deutz-Fahr Group, committing the Italian tractor manufacturer to use a new range of sub-4 liter engines.
“In contrast to our expectations, the wet summer evidently had no material impact on Cervus’ financial performance in the third quarter,” says Ben Cherniavsky, analyst for the Canadian investment dealer, Raymond James.
Talk of consolidation in North American agriculture usually centers on farming operations and equipment dealers getting bigger by swallowing up smaller players.
While it saw overall revenues rise to $170.5 million in the third quarter of 2010 from $145.8 million a year earlier, net earnings by Rocky Mountain Dealerships (RME) slid to $3.8 million for the period vs. $4.9 million in the same quarter of 2009.
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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.