Results of the July 2014 “Dealer Sentiments & Business Conditions Update” survey showed that overall industry sales slipped by 4% year-over-year in June. This compares to a 2% drop in the previous month.
More importantly, order intake was down by 8% compared to the same period a year ago. This compares to 4% in the previous month and represented the largest average monthly decline in the history of the survey (April 2011). Most brands reported high single-digit declines vs. last year, with shortline dealers seeing the largest decline in orders of 13% year-over-year.
Combine order intentions also decreased vs. the previous month, with a net 44% of dealers planning to order fewer combines than last year.
The survey was taken in July and included responses from 122 dealers across the U.S. and Canada. The results were released to Ag Equipment Intelligence subscribers and participating dealers last week.
Overall for 2014, dealers are expecting a 6% decline in sales vs. 2013. This compares with a 4% dropoff that dealers projected in the June survey.