GMG uses historic data models that track net farm income, net farm cash income, commodity prices, currency exchange rates, worldwide agricultural market data and other factors that influence the purchase of tractors and combines in the U.S.
If the number of nominees for this year’s Dealership of the Year is any indication, dealers are beginning to recover from the ag economy downturn and feeling more confident about their businesses.
China’s need for agricultural imports remains significant since they are faced with providing food for nearly one-third of the world’s population. The past decade has produced a growing middle class in China that has demonstrated an increased demand for not only basic foods, but also for high quality products that are only available from other parts of the world.
The strength of the U.S. economy continues to provide support for the smaller tractor sales but the recent declines in the stock markets will have a sobering effect upon some future purchases.
Looking back, 2017 will most likely be viewed as the turning point in agricultural equipment sales for this cycle. While there will probably remain some weakness in the larger tractors and combines in 2018, there are definite signs of a bottom developing.
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.