Click here if you'd like to take the August 2024 News IQ quiz 2 before viewing the answers below.
Q: Titan Machinery announced on August 14 that its margins could approach the historical lows realized in 2016-2017. Titan’s ag segment revenues via its new model assumptions for fiscal 2024-2025 are now:
A: Down 5-10%. Case IH dealership group Titan Machinery released preliminary 2Q results for fiscal 2025 on Aug. 14, ahead of the quarter close on Aug. 31.
Q: Just prior to Alamo Group’s announced closing of its Gibson City, Ill., operation, the OEM sold its Iowa-based Herschel Parts (wear parts) division to which ag equipment supplier?
A: F.P. Bourgault Tillage Tools. Alamo Group Inc. announced Aug. 16 the sale of its Herschel Parts business to F.P. Bourgalt Tillage Tools Ltd.
Q: What was the change in retail sales of 4WD tractors in July vs. last year as reported by the Assn. of Equipment Manufacturers?
A: Up 18.6%. U.S. sales of 4-wheel-drive tractors increased 18.6% in July 2024 compared to the year before and are up 5.2% year-to-date according to new data from the Association of Equipment Manufacturers (AEM).
Q: The pre-tax benefits from John Deere’s layoffs announced in late July are estimated to have what economic impact on the OEM in 2024?
A: $100 million. Deer & Co. reported its third quarter net income of $1.7 billion on Aug. 15. Worldwide net sales and revenues decreased 17%, to $13.152 billion, for the third quarter of 2024 and decreased 11%, to $40.572 billion, for 9 months.
Q: Which industry trade association announced its board voted to merge with the Associated Equipment Distributors (AED)?
A: Canadian Equipment Dealers Assn. The Canadian Equipment Dealers Assn. (CEDA) Board of Directors ratified a membership vote to merge with Associated Equipment Distributors (AED).
Q: Which OEM dominated the outdoor power equipment rankings in the North American Equipment Dealer Assn.’s Dealer-Manufacturer Relations Survey?
A: Grasshopper. Grasshopper & Wright Mfg. dominate NAEDA dealer-manufacturer rankings of OPE OEMs
Q: Farm Equipment’s Dealership Minds Summit in Madison, Wis., this month attracted a crowd of 219 across 45 different equipment dealerships in North America. How many of the dealer-only Summits have been held to date?
A: 10. Top Dealership Minds Gather in Madison, Wis. to Discuss Transitional Management Strategies at the 10th Annual Dealership Minds Summit.
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