Deere has trimmed its annual profit forecast for the second time, squeezed by slumping demand for tractors and combines as falling crop prices pressure farm income.
Tag Archives machinery sales
Deere cuts 2024 profit forecast as sliding farm income stifles demand
CNH Industrial cuts 2024 profit view as soft agriculture demand bites
CNH Industrial cut its annual profit forecast on Thursday, squeezed by slowing demand for its tractors and farm equipment as choppy crop prices and higher borrowing costs hinder farmers from making big-ticket farming purchases.
Agco introduces FarmerCore dealer program
A retail-level development initiative aims to improve the company's overall service to farmers
When it comes time to buy equipment, the quality of the local dealer, or lack of one, has typically played a big part in many producers’ decisions. A good local dealer is a big advantage for farmers and helps drive sales. It’s a factor of which major brands are well aware. Since its inception in […] Read more
Understanding farmers’ equipment needs
As the pace picks up on advancements in technology, consulting customers for their feedback becomes more important
A few years ago, I was invited to attend an R&D facility to test-drive a prototype version of an MFWD tractor with a CVT transmission — then I was asked to give my impressions of what I liked or didn’t like. It was interesting to participate in the early evaluation of a new tractor. Prototype […] Read more
Deere cuts 2024 profit view as borrowing costs hurt demand
Executives expressed caution about margin performance amid weakening farm economy
Deere & Co cut its 2024 profit forecast on Thursday as farmers remained hesitant about big-ticket equipment purchases due to high borrowing rates and falling crop prices, even as its first-quarter sales and profit topped Wall Street estimates.
Tractors continue unusually strong sales in November
Many types of machinery have seen price hikes of around 30 per cent or more
The growing price of farm equipment is not dissuading farmers from buying new machinery, according to the latest data from the Association of Equipment Managers (AEM).
Equipment sales expected to soften in 2024
Interest rates, equipment prices and commodity prices will all play a role, says FCC
According to FCC's 2024 outlook for the Canadian farm equipment market, new sales are projected to be softer in 2024 based on three factors: higher interest rates, elevated equipment prices and a decline in commodity prices.
Cyber-Savvy Farmer
