According to the latest UBS Investment Research dealer survey, Case IH and New Holland are offering their dealers “more generous” incentives than they were 6 months ago. They’re also a bit more generous than those offered to John Deere and AGCO dealers.
The 34th UBS Agricultural Dealer Survey, released to investors on July 25, asked dealers “How are manufacturer incentives compared to 6 months ago?” Respondents could select “More generous,” “Unchanged,” or “Less generous.”
Based on 238 responses, most dealers (53%) indicated incentives are “Unchanged,” with the remainder divided close to 2 to 1 toward “More generous” (29%) than “Less generous” (17%). “That said, responses appear to differ by dealer network,” said Steven Fisher, UBS analyst. “Case and New Holland dealers indicated 'more generous,' while AGCO dealers were weighted toward 'less generous.'"
| Farm Equipment Manufacturer Incentives | |||
| Company |
More Generous |
Unchanged |
Less Generous |
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| AGCO | 11% | 67% | 22% |
| Case IH | 43% | 36% | 20% |
| John Deere | 17% | 63% | 20% |
| New Holland | 34% | 55% | 11% |
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| Total | 29% | 53% | 17% |
Source: UBS Agricultural Dealer Survey #34
