In 2017, the total wholesale volume of agricultural machinery in Brazil reached 42,800 units. This is 1.7% higher than in 2016. It is the first year of growth after 4 consecutive years of retraction, according to data from the country’s National Assn. of Automotor Vehicle Manufacturers (Anfavea).
Although Kuhn Group performed significantly better than the overall market in 2015 thanks to good positioning in Europe and U.S., its managers say it could not escape the effects of a sharp downturn in the agricultural sector.
Few will argue with the fact that the very generous depreciation rules for farm machinery introduced 2008 have played a role in the protracted run of strong sales years for ag equipment dealers and manufacturers.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.