Fueled in part by its growing North American sales, the Kuhn Group reported that, while its net sales in 2013 grew by 5% vs. the previous year, its profits rose by nearly 25% and profit margins increased by 2.5%.
While several years of speculation about when Claas tractors will finally enter the U.S. and Canada ag market remains just that, another tractor maker from India says it plans to be here in 2015.
North American large ag equipment retail sales fell in March, with 4WD tractor sales down 6.4% year-over-year, combine sales down 23.9% and row-crop tractor sales down 9.5%, according to the latest figures released by the Assn. of Equipment Manufacturers.
North American equipment dealers' latest outlook for 2014 calls for equipment sales to decline about 2%. This is slightly better than the 4% falloff dealers projected in the previous month.
As the Federal Reserve backs away from its policy of quantitative easing that it has employed during the last several years in an attempt to jumpstart the U.S. economy, it's expected to push up interest rates for borrowing.
Used equipment inventory grew to the highest level in the history of our survey in January as a net 42% of dealers reported used inventories as too high (48% too high; 46% about right; 6% too low), compared to 30% too high? in December.
As we reported in the last issue of E-Watch, Case IH is leaning on its dealers to drop as many as 7 shortline equipment brands they may be carrying. The shortlines named included Drago, Gerringhoff, Great Plains, Kinze, Kuhn Krause, Kubota and MacDon.
More than a quarter of dealers responding to Ag Equipment Intelligence's most recent Dealer Sentiments & Business Conditions Update survey are reporting that their new equipment inventory is too high.
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.
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