North American farm equipment dealers are maintaining a strong positive outlook for the remainder of this year, according to the latest “Dealer Sentiments & Business Conditions Update” survey. Overall, the dealers’ 2013 industry outlook improved to 5% in April, up from 3% forecast in the previous month.
Of the major manufacturers, Kubota dealers have the most optimistic (7%) outlook for 2013, and New Holland dealers are the least optimistic (4%), though all dealers regardless of brand appear to have a positive view for sales for the remainder of this year.
Nine of 11 regions are projecting a positive full year 2013 sales outlook in April, up from 8 regions last month. Appalachia is the most optimistic, while the Delta States is the only region expecting sales to decline in 2013.
Dealer optimism saw a big boost in April, according to the report that was released to subscribers of Ag Equipment Intelligence last Friday. Our Dealer Optimism Index, a measure of sentiment among dealers compared to the prior month, skyrocketed in April as net 12% of dealers reported a more optimistic outlook for the year (27% more optimistic; 58% same; 15% less optimistic). This compares to a net 5% in March who reported a “less” optimistic outlook.
Ag Equipment Intelligence and Cleveland Research Co. conduct the “Dealers Sentiment & Business Conditions Update” survey monthly. More than 150 dealers representing $6.3 billion in annual sales participated in the May survey.