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AEI Newsmakers: January 2024

January 15, 2024 | Posted in Analysis & Commentary
  • Tire manufacturer Bridgestone announced Dec. 20 it had sold its Russian business to Russian holding company S8 Capital, which includes a tire manufacturing plant, a sales and marketing office and about 1,000 employees.
  • Engine manufacturer Cummins agreed to a record-setting $1.7 billion fine in the settlement of a lawsuit by the U.S. Justice Department and California, according to a Jan. 10 report from Reuters.
  • As part of its efforts to electrify critical off-highway machinery, Bosch Rexroth announced Jan. 9 a partnership with thermal management manufacturer Modine.
  • Kinze has purchased a 443-acre agricultural land tract south of the Phoenix, Ariz., metro area, according to a Jan. 4 report from BNN.
  • During this year’s Consumer Electronics Show, Doosan Bobcat revealed an autonomous and electric articulating tractor — the Bobcat AT450X enabled by Agtonomy.
  • Ag equipment distributor AgLine Distributing & Equipment officially began operations at a Mississippi Band of Choctaw Indians facility in Carthage, Miss., earlier this month, according to a Dec. 27 report from The Nebosha Democrat.
  • Implement manufacturer Lemken has brought South African no-till drill manufacturer Equalizer — which it acquired in January 2023 — to Canada for field testing, according to a Jan. 14 report from Grainews.
  • In its Jan. 12 WASDE report, USDA’s 2023-24 U.S. ending stocks are estimated at 2.162 billion bushels of corn (vs. consensus 2.094 billion bushels) and 280 million bushels of soybeans (vs. consensus 242 million bushels).
  • VDMA reported German tractor registrations down 1% year-over-year in December (flattish in 2023). Registrations in the 100+ horsepower category were up 4% year-over-year (up 5% in 2023).
  • Tractor Zoom, a provider of farm equipment and heavy machinery valuation data, announced Dec. 20 the acquisition of Anvil App Works, a salesforce OEM partner with CRM solutions built for equipment dealerships.
  • Oxbo announced Dec. 21 it will acquire Westside Equipment Co. in Madera, Calif, a manufacturer of tomato and pistachio harvesting equipment. 

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On the Record Podcast

[Podcast] Farmer Wallets Tighten Due to Rising Prices, But Dealers Still Predicting Sales Growth

September 9, 2022
In this podcast we discuss grower sentiment and their intentions to make large equipment purchases as well as dealers' sales outlook for 2022 and 2023. In the Technology Corner, Michaela Paukner takes a closer look at Greeneye's precision sprayer system. Ben Thorpe also brings us a report from the Farm Progress Show about Versatile and Cummins partnership on a hydrogen engine. And finally, we introduce a new feature to end the show — AEI Data Points. This feature is a quick highlight of a noteworthy table or chart that the ag equipment industry needs to know.
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On the Record

Farmer Wallets Tighten Due to Rising Prices, But Dealers Still Predicting Sales Growth

September 9, 2022
In this week's episode we discuss grower sentiment and their intentions to make large equipment purchases as well as dealers' sales outlook for 2022 and 2023. In the Technology Corner, Michaela Paukner takes a closer look at Greeneye's precision sprayer system. Ben Thorpe also brings us a report from the Farm Progress Show about Versatile and Cummins partnership on a hydrogen engine. And finally, we introduce a new feature to end the show — AEI DataPoints. This feature is a quick highlight of a noteworthy table or chart that the ag equipment industry needs to know.
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AGCO Aims for $2 Billion in Precision Ag Business by 2029

AGCO Aims for $2 Billion in Precision Ag Business by 2029

In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at AGCO’s plans for its precision business and its 2029 targets. In the Technology Corner, Noah Newman talks with Eis Implement’s precision team. Also in this episode, the interest savings dealers could see with the latest rate cut by the Fed and a look at the used 100+ horsepower tractor market. 

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