Nearly 90% of dealers polled for Ag Equipment Intelligence’s “2014 Dealer Business Outlook & Trends” survey say they expect prices for new equipment next year to rise between 1% and 6%. Only 2.8% of dealers say they don’t expect increases for the price of new equipment in 2014.
In response to the question, “Are you expecting a price increase from your mainline supplier on 2014 equipment?” overall, 45.8% of dealers surveyed reported they’re looking at price hikes in the 1-3% range. Another 43% are looking at increases of 4-6%.
Nearly 8% of ag machinery dealers are anticipating prices to increase by 7-9% and 2.1% see prices rising by 10% or more.
These increases are in line with what equipment analysts are reporting following meetings at the Farm Progress Show last week in Decatur, Ill.
According to various reports, Deere indicated that prices for its sprayers would increase by 6.5% and combines by 4% in 2014. The company said it would release pricing on Tier 4 Final tractors in the next week or so.
CNH said prices for Tier 4 Final equipment would rise by 2-4%. No word yet from AGCO on pricing for 2014 equipment.
Complete results of Ag Equipment Intelligence’s “2014 Dealer Business Outlook & Trends” will be released in early October. An in-depth summary will appear in the October/November issue of Farm Equipment.