Deere and Co. expects a pre-tax impact for 2025 of just over $500 million on its bottom line, if the levels of U.S. tariffs in place as of mid-May remain over the coming fiscal year.
Tag Archives equipment sales
U.S. tariffs add big costs to John Deere’s manufacturing
Brand estimates tariffs could add up to $500 million in new costs this year
Farm machinery market now a riddle without a punchline
Farm Financial Planner: Tariffs will pile up on new equipment crossing borders en route to final assembly
Current market turmoil is rooted in U.S. tariffs and that uncertainty cascades down to combines, harrows, tractors, trucks — you name it — leaving farmers, at the tail end of the process, cautious.
Local sales in ag equipment buck national market trends
Evidence at Crop Production Show suggests demand beyond the data
Even on a largely underperforming harvest outcome, optimism was still present in the majority of the crowd at this year’s Crop Production Show in Saskatoon. It seemed fitting to have the two largest pieces of equipment at the show a couple of booths down from each other. Capacity, horsepower and efficiency have been the focal […] Read more
AgWest expands westward
Two Saskatchewan sites join the Agco dealership group
During Ag Days last month in Brandon, farm equipment dealer chain AgWest announced it’s making its first move into Saskatchewan, buying the Yorkton and Weyburn locations of another Agco dealer, Agriterra Equipment. “This is a natural extension of our current presence in Elie, Neepawa, Brandon, Russell and the Swan River region in Manitoba,” AgWest’s CEO […] Read more
Combine market holding, for now
According to a recent news release from Alberta Agriculture and Irrigation, higher combine prices do not yet appear to have affected their sales in Canada.
Deere beats profit targets as strong pricing, cost cuts counter slow demand
Deere & Co beat analysts' expectations for third-quarter profit on Thursday, as stronger pricing and cost control measures protected its margins from sluggish demand for its farm equipment.
Equipment sales to slow in 2024
Overall sales could decline by up to 15 per cent in Canada
Farm Credit Canada recently released a farm machinery market outlook for 2024 — and the news isn’t all that great for Canadian equipment dealers, especially when it comes to harvesting equipment. Despite new combine sales growing 5.5 per cent in 2023 in Canada compared to 2022, according to the Association of Equipment Manufacturers (AEM), the […] Read more
Geared-down expectations
What are other machinery manufacturers telling their shareholders to expect as they plow ahead into 2024? CNH (Case IH, New Holland) For its first quarter (Q1) ending March 31, CNH said sales volumes in North America were down two per cent for higher-horsepower (over 140 hp) tractors, and down 15 per cent for lower-horsepower tractors, […] Read more
Used prices slip for some machines
RB shows declines in truck tractor, skid steer prices
For anyone in the market for a used skid steer or truck tractor, now might be a good time to head to an auction sale. As the spring auction season ramps up, Ritchie Bros. Auctioneers (RB) just released its “Market Trends Report for Used Equipment and Trucks” for the first quarter of 2024 — and […] Read more
Deere announces job cuts to tackle slowing farm equipment demand
Deere & Co said on Wednesday it would cut an unspecified number of production and salaried jobs to save costs as it grapples with a downturn in farm equipment demand.
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