Looking back, 2017 will most likely be viewed as the turning point in agricultural equipment sales for this cycle. While there will probably remain some weakness in the larger tractors and combines in 2018, there are definite signs of a bottom developing.
John Deere released its North American May retail sales statement on June 12. While industry retail combine sales were up 12%, Deere reported its retail sales were up more than the industry average.
“They’re planting fence to fence!” This cry could be heard as it echoed down the halls of the USDA when the National Agricultural Statistic Service (NASS) released their planting intentions report on March 31.
The Assn. of Equipment Manufacturers reported tractors under 40 HP experienced a significant increase in January shipments as compared to the January 2015 number, but retail sales dropped from 4,129 last January to 1,550 last month.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.
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