A sharp surge in purchases and registrations of tractors in the final two months of 2020 helped the Italian tractor market ease to a more modest decline than was expected earlier in the year.
The Republic of Ireland’s tractor market mirrored the pattern seen in most countries around Europe in 2020 as the intervention of Covid-19 bore down on deliveries of new machines.
A 12% increase in Landini tractor market share in the competitive Italian tractor market helped the Argo Group maintain revenues at near 2014 levels last year despite a global industry sales downturn.
New Holland and John Deere were the market leaders as the top selling farm tractors during 2014 in 10 of the 14 European Union countries featured in the April 23 issue of the German publication Eilbote.
Slow economic growth throughout the European Union is having an impact on farm equipment sales. Several of the EU’s largest markets for ag machinery are reporting a dropoff in sales through the first half of 2013.
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.
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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.