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.
Financial incentives to encourage farmers in Russia to buy new combines and tractors have been agreed to by provincial authorities and two domestic manufacturers.
USDA’s crop acreage report revised the corn-planted acres down to 87.9 million acres compared with 88.8 million acres in March, but it was much lower than industry expectations of 89.3 million acres.
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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.