As this unprecedented year comes to a close, some dealerships experienced strong sales with lower horsepower units including outdoor power equipment. With a shortage of new ag production inventory, many took the opportunity to reduce their used equipment. In this webinar, Dealer Institute Instructor, Trent Hummel discusses important 2020 wholegoods stats. [To view any of our webinar replays, you must be logged in with a free user account.]

The coronavirus pandemic certainly dominates the news cycle, but investors are seeking to understand how the upcoming election might impact the market and their investments. In this webinar, David B. Wentz examines the market returns during election years, performance under different political administrations, provide perspectives on why we observe these results and advice on how investors can stay on track. [To view any of our webinar replays, you must be logged in with a free user account.]

As part of his recent presentation at the 2020 Virtual Dealership Minds Summit, Trent Hummel, consultant and trainer with the Western Equipment Dealers Assn.’s (WEDA) Dealer Institute, showcased a series of studies conducted with Farm Equipment in which surveyed dealers were asked what influences their valuations of used equipment.

Interest in used equipment is on the rise, but not particularly in used combines. According to results from Ag Equipment Intelligence’s August 2020 Dealer Sentiments report, a net 6% of dealers reported their used inventory “too low” in July, the first time it’s been “too low” since June 2012.

Finding a good employee and keeping them on has become an increasingly difficult task for many farm equipment dealers.

Sales tax compliance has never been easy, even though the vagueness of some of the standards may have made it easier to gloss over potential sales tax obligations. With the new Wayfair ruling by the Supreme Court, dealers will get the benefit of some additional clarity for both reporting obligations and responses to customer questions. But this clarity comes at the cost of requiring you to be even more vigilant about your compliance efforts as there will be less gray area involved in sales tax audits regarding sales to out-of-state customers. Learn these new rules to help minimize your exposure in future sales tax audits. [To view any of our webinar replays, you must be logged in with a free user account.]

In this episode of the new Farm Equipment podcast, “Our Dealer Story” brought to you by HBS Systems, Editor/Publisher Mike Lessiter sits with Ed Heim, the second-generation owner of Hoxie Implement Co., a 3-store Case IH dealership in Hoxie, Kansas.