AGCO reported net sales of approximately $1.8 billion for the second quarter of 2009, a decrease of approximately 25%, compared to net sales of approximately $2.4 billion for the second quarter of 2008.
CNH Global NV, which makes Case and New Holland tractors for farmers and builders, said had a loss in the second quarter as weak demand offset cost cuts and lower production.
The Farm Equipment Sector of India’s Mahindra & Mahindra sold 26,723 tractors in its domestic market in June, up from 22,493 units in June 2012, a growth rate of 19%.
This morning Deere & Co. reported an 11% increase in profits compared to the same period of 2011. The Co. posted net income of $788 million vs. $712.3 million a year ago. Total sales and revenues rose 15% to $9.59 billion.
In spite of an unsettled global economy, demand for John Deere products is expected to experience substantial growth in fiscal year 2012 and the company is forecasting further increases in sales and earnings as a result.
For the quarter, CNH's net sales increased 30% (26% on a constant currency basis) to $4.6 billion as agricultural equipment markets continue to perform well across the Group's geographical portfolio and the construction equipment market continues its recovery.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at the implications Deere's settlement with the FTC has on the broader industry.
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.