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.
A new R&D center and an additional assembly line for tractor transmissions was opened by Carraro in India shortly before the group announced a substantial investment in new production facilities at its Italian factories.
First quarter sales revealed a negative trend domestically for Italian tractors, other self-propelled machinery and trailers, continuing the downward trend of the last 5 years, according to Italy’s FederUnacoma. Combines, however, showed positive growth for Italian equipment 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.