Although a few more dealers say their early equipment orders are up compared to this time last year, overall, new farm machinery order books continue on a downward slide that began 3 years ago.
North American equipment dealers' latest outlook for 2014 calls for equipment sales to decline about 2%. This is slightly better than the 4% falloff dealers projected in the previous month.
With a 27% bump in unit sales in May vs. a year earlier, it appears that the prospects for compact tractors are improving significantly following 5 years of relatively flat sales.
Source: Ag Equipment Intelligence & Cleveland Research Co.
While dealers continue to report strong sales through the first four months of 2013, data is beginning to emerge that would seem to indicate that 2014 could be far more challenging for ag equipment sales.
For 2013, North American farm equipment dealers are forecasting a 2% growth in overall sales, according to the most recent Dealers Sentiment & Business Conditions Update survey. This was down from 3% in September.
In this episode of On the Record, brought to you by Associated Equipment Distributors, Marc Johnson, principal with Pinion, provides 4 factors that will be important for dealers to watch in 2025 that will impact their business.
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