Last week 235 attendees from 112 different dealerships across the U.S. and Canada gathered in Omaha, Neb., for 2 days of discussion focused on remarketing used equipment at our 3rd Dealership Minds Summit. The theme of the Summit was “Roadmap to Mastering Equipment Remarketing.”
Why do today’s equipment dealers need to fundamentally evolve to, embrace and implement the changes needed to the outdated relationship model and roles of “dealer” and “customer?” In an environment of accelerating demographic changes, and with the fast paced, continually evolving, marketplace, changes can be difficult, and the answers may not appear readily obvious.
If you were to read through any of the major farm equipment manufacturers annual reports (also referred to as Form 10-K by the SEC), each of them refers to the businesses that sell their products as “independent dealers.” This would imply that those dealers are free to operate their businesses as they see fit. We all know this isn’t anywhere close to what’s actually taking place in the real world of the farm equipment business.
Let’s talk big square balers. I saw a very nice 2011 model Massey Ferguson 2150, one owner, only produced 7,800 bales, sell for $51,000 at a farm auction in northeast Iowa.
One of the fun things about our coverage of the farm equipment business is discovering and sharing how each of the various cogs perform together in the larger “machine.” On each of the Dealership Minds special issues, we’ve had subscribers laugh about how they learned something they didn’t know about the role of a person they’d worked 10 yards away from for a decade, sometimes more.
While ag equipment sales continue to be soft, both farmers and dealers seem to be feeling a bit more positive about things than they have over the last few years.
Great leaders simplify their messages. As a dealership leader, are your messages the most powerful? Think of Ronald Reagan, often called the Great Communicator, and some of his famous messages. “Mr. Gorbachev, tear down this wall” at the Berlin Wall. Or after the Challenger disaster, “They touched the face of God.” The title of his biography by his speech writer Peggy Noonan says it best — Simply Speaking.
U.S. engine builders will have to comply with Stage V for engines sold in Europe, but the days of rubber stamping European regulations may be over at EPA.
Our data allows us to take a very objective view of the current situation in the agricultural equipment markets and all are pointing toward a solid base building this year. There are concerns about the export markets from several perspectives.
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.