While demand was down across all regions for CNH Industrial during the first quarter, CEO Scott Wine said retail deliveries during the quarter outperformed the overall market.
Recovering sales of Fendt-built tractors in the North American market, thanks largely to the introduction of new 400-500 horsepower wheeled models, are expected to get a further shot in the arm with the launch of a new range of 300-415 horsepower models using similar hi-tech features, including a row crop version clearly targeting the Midwest Corn Belt.
After making major strides in increasing sales in the U.S. and Canada, LS Mtron, the South Korean-based manufacturer of the LS brand of compact and mid-range tractors, is eyeing Brazil as its next target for growing revenues.
It looks as if the anticipated consolidation of the compact tractor industry in North America is under way, with the first salvo being merger plans for Montana Tractors LLC and Kukje Machinery Co., the parent company of Branson Tractors Inc.
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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.