The volume of loans for farm machinery and equipment purchases dropped to the lowest level in more than 2 years, according to the January 2014 Agricultural Finance Databook from the Federal Reserve Bank of Kansas City.
Harvest machinery specialist Claas not only celebrated its 100th anniversary in 2013, it also posted another record set of financial results. Group sales were up 11% on the prior financial year ended September 30, hitting the equivalent of almost $5.2 billion at current exchange rates.
Few will argue with the fact that the very generous depreciation rules for farm machinery introduced in 2008 have played a significant role in the protracted run of strong sales years for ag equipment dealers and manufacturers.
The last few years have been record years for North American tractor sales and for some it may be hard to remember a time when business wasn’t booming.
North American large ag equipment retail sales increased in December, with 4WD tractor sales up 6.9% year-over-year, combines up 37.1% and row-crop tractors increasing 13.9%, according to the Assn. of Equipment Manufacturers.
Strong margins, diligent expense control and favorable exchange rates contributed to record earnings at Bühler Industries last year, despite a drop in sales revenues.
Equipment dealers who cater to hobby farmers, large property owners and landscapers are banking on the economy continuing to improve to boost sales in 2014.
North American large ag equipment retail sales increased in November, with 4WD tractor sales up 1.9% year-over-year, combine sales up 25.8% and row-crop tractor sales increasing 7.2%, according to the Assn. of Equipment Manufacturers.
On December 10, Deere released its retail sales comments for the month of Nov. in which it compares its performance to that of the industry in the U.S. and Canada.
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.