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AGCO Combine & Application Equipment Sales Down 30% in 1Q24

May 10, 2024 | Posted in Data & Forecasts
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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Conversations in Ag

Regardless of Age, Selling is About Knowing Your Customer

2 dealer executives sit down to discuss how customer personality is a greater driver in communication preferences & technology adoption than age
By Kim Schmidt posted on February 27, 2024 | Posted in Best Practices, Department Management
Jared Nobbe, division manager with Sydenstricker Nobbe Partne, and Colin Hlavinka, director of sales for Hlavinka Equipment Co., sat down during the North American Equipment Dealers Assn. Dealer Conference in Dallas to compare notes on the best approaches to selling to the next generation of customers.
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AgRevolution (Vincennes, Ind.) - May 2023 Farm Equipment Store Visit

Kim Schmidt and Mike Lessiter hit the road in May 2023 for a couple of dealer visits in Indiana. One of them was our first visit to AgRevolution’s newest store in Vincennes, Ind., which opened in the summer of 2022. For those unfamiliar, AgRevolution is the moniker of the 7 company stores owned and operated by AGCO since the fall of 2020. The following is a slideshow of some photos taken during that visit.

Read more at "Company Store Observations ... AGCO’s Ag Revolution"

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Farm Equipment Videos

Big Dealer Consolidation Continues in 2024

Big Dealer Consolidation Continues in 2024

In this episode of On the Record, brought to you by Weasler Engineering, we 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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Yetter Farm Equipment

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.
MonTag

Montag Mfg

Montag is the industry’s innovative leader for precise, accurate metering of fertilizer, seed and other nutrients. The Montag system has become the standard for deep banding of fertilizer. Montag is also pioneering the technology for cover crop seed application. The new Cover Crop+ is able to meter the smallest seed, and can be mounted to tillage implements, combines, plus Hagie sprayers and detasselers.

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Finance Scope

Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.
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