North American sales of large farm equipment remained solid in September, according to the latest figures released by the Assn. of Equipment Manufacturers.
The latest Lexion combines rolled out by Claas of America Inc. at the Farm Progress Show in September not only featured a new cab, new control features, upgraded hydraulics and high-speed suspension tracks, but also the “Claas” name for the first time.
For the sixth straight year, North American farm equipment dealers have rated GPS/Auto-Steer products as having the most potential for improving unit sales for the coming year.
August represented the highest month of “August” sales this cycle, even higher than the 2008 peak, according to Ann Duignan, JP Morgan analyst in her report on the latest sales figures of North American farm equipment sales from the Assn. of Equipment Manufacturers.
While its second quarter 2011 revenues rose 8.5% to $209.7 million compared with the second quarter of fiscal 2010, Titan Machinery’s profits slipped 44% to $2.7 million during the period from $4.9 million for the same 3 months of last year.
While John Deere is the undisputed leader when it comes to total sales of farm machinery worldwide, it doesn’t dominate the other regions of the world like it does North America.
Farm equipment dealers believe farmers will purchase extra equipment this year to delay buying interim Tier IV equipment, and this will likely come at the expense of 2011 sales, according to the most recent dealer survey conducted by UBS Global Equity Research.
How North American farm equipment dealers’ view their prospects for increasing sales in the coming year is in stark contrast to what they saw ahead just a year ago.
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In this episode we look at the potential impact Hurricanes Helene and Milton will have on ag production as well as the dealers and manufacturers in the impacted region.