For the first quarter of 2018, AGCO raked in $2 billion in net sales, a 23.3% increase compared to the same 3 month period the year prior. And with the stage set, the company expects sales to reach around $9.3 billion by the year’s end.
After struggling with shrinking sales and revenues since 2014, the Big 3 of ag equipment — AGCO Corp., CNH Industrial and Deere & Co. — each posted the strongest results they’ve seen in a while.
North American unit sales of new and used high horsepower farm machinery started their downhill slide in 2014 and it wasn’t until late 2017 that the industry began to see some pick up. During that period, farm equipment dealers renewed their efforts to increase the sale of parts and service.
A noteworthy 12.6% increase in 2017 sales turnover was posted by German agricultural equipment manufacturer Amazone and managers say market indicators give them confidence to predict further growth this year.
Tire and rim maker Titan International’s newest board director is optimistic that the Quincy, Ill.-based group will continue to make sales and profitability progress through 2018.
After struggling with shrinking sales and revenues since 2014, the Big 3 of ag equipment — AGCO Corp., CNH Industrial and Deere & Co. — each posted the strongest results they’ve seen in a while.
When it comes to farm equipment revenue mix, European dealers rely far more on new equipment sales and less on used equipment sales than do dealers in the U.S. and Canada.
Citing “improved customer sentiment” in its agriculture segment and “continued growth” in its international markets, Titan Machinery raised its sales guidance for fiscal year 2018.
Growth of farm equipment sales in October was the highest in nearly 7 years, according to the latest sales figures reported by the Assn. of Equipment Manufacturers.
Rocky Mountain Dealerships, Case IH’s largest dealership group in Canada, reported strong sales in the third quarter, continuing a trend that started earlier this 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.