According to Ag Equipment Intelligence’s research report “Chinese Tractor Market: Analysis & Forecast” released on July 1, annual 41-100 horsepower tractor sales in China are forecast to reach over 1.6 million by 2026.
In order to independently pursue growth in China, the world’s largest tractor manufacturer, Mahindra & Mahindra, has announced it is selling its entire stake in a Chinese tractor joint venture company.
The most ambitious attempt yet by a Chinese manufacturer to enter mainstream Western tractor and machinery markets takes another step this fall when a subsidiary of Lovol Heavy Industries starts assembling tractors in Italy for sale in a number of European countries.
Despite the a slowdown in China’s economy, Japanese farm equipment maker, Kubota, is betting that demand for ag machinery will remain strong well into the future.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.