Data & Forecasts

DataPoint: Forage Harvester Sales

The percentage of dealers forecasting sales growth of 2% or more for forage harvesters rose to 8.5% for 2024, according to the latest Dealer Business Outlook & Trends report. This percentage peaked in the last 5 years when almost 14% of dealers were forecasting unit sales growth for 2021.
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AGCO Combine & Application Equipment Sales Down 30% in 1Q24

AGCO reported net sales of $2.9 billion for its first quarter, a decrease of 12% year-over-year. This was down 12% from over $3.3 billion in AGCO first quarter of 2023. Net sales from North America specifically brought in $730 million for the first quarter of 2024, down 21% from last year. AGCO reported that softer industry sales and lower end market demand were partially offset by positive pricing. Its most significant sales declines were in hay  equipment, mid-range tractor and combines.
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CNH Industrial Ag Sales Down in 1Q24

 CNH Industrial’s first quarter ag net sales were down 14% year-over-year to $3.4 billion, mainly due to lower industry demand and dealer inventory management. According to the earnings report released May 2, agriculture net sales for the quarter fell back to levels seen in the first quarter of 2022, though remained about ag net sales for the first quarters of 2020 and 2021.
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On the Record

Big Dealer Consolidation Continues in 2024

In this episode of On the Record, brought to you by Weasler Engineeringwe break down the key takeaways from Ag Equipment Intelligence's newly released 2024 Big Dealer Report. In the Technology Corner, Noah Newman shows us how cover crop planting could be done autonomously. Also in this episode, CNH Industrial reports a drop in ag sales, AGCO combine and application equipment sales are down year-over-year and a UK New Holland factory strike could impact North America.
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Sponsored Content: Trade Values & Trends

Windrower Values Guide

This month's equipment value guide highlights Windrowers from Case IH, John Deere, Krone, MacDon, Massey Ferguson and New Holland All of the Windrowers included in the selection are model year 2021-2023 units and appeared in the Spring 2024 IronGuides Issue. For more detailed values use, an online appraisal tool for agricultural equipment that adjusts for your machine’s unique region, options and usage.
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DataPoint: Declining Early Orders

The percentage of dealers reporting declines in early orders of at least 1% reached 56% in 2024, according to the 2024 Farm Equipment Dealer Business Outlook & Trends report. This was the second year that this percentage increased, though it remains below levels seen for 2015 through 2018. It hit a 10-year low when 13% of dealers forecast early order declines for 2022.

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Layoffs to Hit CNH Industrial Wisconsin Plant

CNH Industrial plans to lay off more than 200 out of the 660 workers at its Racine, Wis., facility and is considering moving operations to Mexico, according to an April 16 statement from Wisconsin Senator Tammy Baldwin addressed to CNH Industrial CEO Scott Wine.

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On the Record

Analysts Comment on CNHI CEO's Departure

In this episode of On the Record, brought to you by Weasler Engineering, we talk to an analyst and dealers on how interest rate cuts could impact the ag equipment industry. In the Technology Corner, Noah Newman shows us how cover crop planting could be done autonomously. Also in this episode, the Baltimore bridge collapse, planter sales forecasts, leasing volumes and Titan Machinery's latest earnings report.
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