Knowing that many farm equipment dealers have tried to avoid auction services in the past, but with the current heavy backlog of used machines on their lots, we asked them if they utilized a commercial auction service either public or online to reduce their inventory of used equipment during 2014?
Kevin Godfrey, owner of Godfrey Bros., says that the two most important things to watch right now are inventory and finding good employees. There is a lot of money that can go into inventory and you have to be careful that your inventory doesn't end up costing you money, says Godfrey. As for finding the right employees, Godfrey says that it is important that you find employees who can keep up with the changing technology.
The Company saw another excellent quarter for revenues, coming in at $68.9, surpassed only by the record first quarters enjoyed in 2011 and 2012. Demand continues to be strong for tractors, seeding and tillage.
Derek Gregorek doesn't have the typical story of how he got into the dealership business. He didn't grow up on a family farm, and he didn't spend his summers in high school sweeping up the shop of a local dealership. After about 10 years working in the insurance industry, he spent the next 3 or 4 years as Mr. Mom, as he puts it.
Source: Dealers Sentiments & Business Conditions Update, Dec. 2013
While we've come to expect dealers to report used equipment levels as "too high," for the fourth consecutive month, dealers are now also reporting their new equipment inventories as "too high."?
Farm equipment dealers continue to see good sales levels going into the last quarter of the year, but more are expecting softer sales in the new year, according to results of the November “Dealer Sentiments & Business Conditions Update” survey.
Farm equipment dealers say that end-of-the year selling has kicked in and manufacturers have gotten more assertive in offering incentives in an effort to boost sales.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at President Trump's tariff reduction on ag equipment, the latest dealer sales forecasts, and how high input costs are keeping farmer sentiment down.
Since 1980, A&I Products has become a leading manufacturer and wholesale distributor of aftermarket replacement parts for the agricultural, turf, and industrial equipment markets. A&I Products' experience and expertise has greatly contributed to the company's reputation as a top supplier of quality, reasonably priced parts. Founded with roots as a small machine shop and repair facility, the company made the transition by manufacturing new parts to replace those that were identified as commonly needing repair. Throughout the 1980s, the company quickly garnered a reputation for offering quality parts at a reasonable price.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.