Record farm income and never before seen low interest rates over the last several years have enabled many dealers to make more money than they have ever made. Barring unforeseen economic and/or political events, all indicators point to continued prosperity for those dealers committed to managing their business successfully.
The title of this series of articles is “Technology for Profit” and is aimed at giving equipment dealers concrete examples of how advanced technology is being adapted to the day-to-day operations at machinery retailers to improve their bottom line.
Agricultural and construction equipment dealer Titan Machinery (TITN) has flush farmers kicking the tires on new and used equipment. Armed with cash, plus money raised in last month's follow-on offering, the company could continue its organic and acquisition-fueled growth.
When the final count for 2010 is complete, the amount of harvested corn could be an all time record; and at a minimum, the recent harvest should rank in the top five years of harvested corn with the other top five years coming from the preceding four years. With five years of record production, one would expect supplies to be high, and demand to be slowing. But just the opposite is occurring.
This morning Deere & Co. reported an 11% increase in profits compared to the same period of 2011. The Co. posted net income of $788 million vs. $712.3 million a year ago. Total sales and revenues rose 15% to $9.59 billion.
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.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.
Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.