The economy is gaining strength in 9 Midwest and Plains states because global growth and continued low interest rates have provided a boost to agriculture and energy businesses, according to a new survey released Tuesday.
North American combine sales jumped by 53% in May while retail sales of row-crop tractor sales continued to weaken, according to the latest report from the Assn. of Equipment Manufacturers.
“Tractor sales appear to have peaked in early 2009 and continued to soften in seasonally important April, combine sales remained relatively healthy,” says Robert McCarthy, analyst for RW Baird, in assessing the April 2009 North American ag equipment retail sales from the Assn. of Equipment Manufacturers.
Fargo, N.D.-based Titan Machinery, one of the largest farm equipment dealer groups in North America, reported significant increases in revenues, net income and gross profit for fiscal 2009, and the company sees more of the same for the remainder of the calendar year.
Compared to 3 months ago, slightly fewer North American farm equipment dealers see their prospects improving for increased new machinery sales revenue in 2009 compared to the previous year.
Rural lifestyle farms are proliferating in the U.S., according to the 2007 Census of Agriculture, signaling a growing market for ag equipment manufacturers.
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
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.