With mounting fears brought on by the coronavirus, some expected sales of farm machinery would take a hit in April. While North American dealer unit sales fell for large ag equipment in April, declines moderated from March.
The Assn. of Equipment Manufacturers is reporting that U.S. sales of farm tractors and combines in February were mixed. The bright spot was 4WD and 100-plus horsepower tractors which showed healthy gains year-over-year, however, overall tractor and combine sales fell during the month.
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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.