Ag equipment dealer same-store sales were down in December on a dollars basis, according to data collected by DA Davidson. Other same-store data reports on units, whereas the DA Davidson data is based on sales, notes analyst Michael Shlisky.

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North American ag dealer same-store sales were down 15% year-over-year in December, but improved compared to November. 

Importantly, Shlisky says, December is seasonally one of the least-important months for retail sales for dealers, given the winter season.

Shklisky notes that the downside continues to be seen most starkly in Canada, which was down 34%. In the key Midwest region, sales were down 17%, in line with November.

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Same-store sales were down 15.5% in CNH's 4Q. Shlisky says, at this point in the year, they are not expecting much improvement. “Comps get substantially easier during Deer's fiscal second quarter of 2025, as North American farmers return to their fields to plant.”


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