Ag Equipment Recovery Slowly Improving

Ag equipment manufacturers reported industry recovery continued to move forward in the third quarter with significant improvement in the latest Agriculture Industry Conditions survey conducted by the Assn. of Equipment Manufacturers (AEM) in October 2020.

The Future of AGCO After Richenhagen
In August of last year, AGCO announced its CEO Martin Richenhagen would be retiring on Dec. 31, 2020, with Eric Hansotia, its then COO, assuming the CEO role. Ag Equipment Intelligence editors reached out to key analysts in the industry to see what impact Richenhagen had on AGCO’s direction, what successes he’ll be remembered for and how Hansotia will fill his shoes.
MacDon Group President to Retire
Ken Ross, group president of MacDon, has decided to retire effective March 31, 2021. Ken joined MacDon 14 years ago as vice president of operations and has been instrumental in the successful development and growth of MacDon through these years.
Tractor Sales Finish 2020 Up 17% in U.S., 10% in Canada
Farm tractor and self-propelled combine unit sales finish the year with solid growth across the U.S., while sales in most sectors in Canada were also positive according to the latest data from the Assn. of Equipment Manufacturers (AEM).

More Editors' Picks

Mergers & Acquisitions

CNHI Completes Acquisition of 4 Divisions of CEG in South Africa
CNH Industrial has announced that it has successfully concluded the deal to acquire the 4 businesses from CEG, a business unit of Humulani Marketing Pty Ltd, ultimately owned by Invicta Holdings Limited.
Agri-Service Acquires Rathbone Sales in Moses Lake, Wash.
Agri-Service, a 9 location AGCO dealer servicing Idaho, Oregon and Washington, has announced the signing of a Letter of Intent to acquire Rathbone Sales, Inc., an AGCO dealer located in Moses Lake, Wash., to be effective April 1, 2021.
Farmers Supply Co. Merges with H&R Agri-Power
H&R Agri-Power and Farmers Supply Company will be joining forces going into 2021. Both businesses have locations in Lawrenceburg, Tenn., and have similar missions of satisfying customer needs by supplying quality farm equipment while providing top-notch service and parts support after the sale.

Earnings Reports

Lindsay Corp. Reports 1QFY21 Irrigation Revenues Up 4.8%
Revenues for the first quarter of fiscal 2021 were $108.5 million, a decrease of $0.9 million, or 1%, compared to revenues of $109.4 million in the prior year first quarter.
Buhler Reports FY20 Revenues Up 8.9% Year-Over-Year
Revenue for the year was $195.3 million, up 8.9% from sales of $179.3 million in 2019. The Company’s increased sales levels are as a result of dealers reducing field inventory in the previous year, strong harvest conditions and crop yields.
Claas Reports FY20 Sales Up 3.7%, Strong Sales Growth in North America
The North American market gave Claas a shot in the arm as its European strongholds weakened to help drive the group to record revenues.

Webinar Replay

Opportunities in the Changing Economy

In the wake of corporate OEM restructuring and the economic impacts of COVID, dealerships are seeing both challenges and opportunities due to multitude of forces. Hear from the dealership and ag experts Marc Johnson and Clinton Baker from K·Coe Isom as they discuss the Opportunities for your Dealership in a rapidly changing economy.

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Net 32% of Dealers Report Used Inventory Levels ‘Too Low’

Happy New Year! The latest episode of On the Record is now available. In this week’s program we discuss dealers’ record low used equipment inventory levels. In the Technology Corner, Jack Zemlicka discusses how the lifecycle of precision services are evolving. Also in this episode, the latest earnings reports from Buhler, manufacturer of the Versatile and Farm King brands of equipment, and Claas, as well as an improvement in farmer sentiment and farm equipment purchasing plans and the Dallas Federal Reserve Bank reports weaker ag conditions in the fourth quarter of 2020.

Full Year 2020 Tractor & Combine Sales — U.S. & Canada
Despite the year’s challenges, 2020 saw increases in all categories of U.S. farm equipment sales, while Canada struggled with its larger equipment sales.
Ag Equipment Manufacturers — Executive Compensation
In its most recent list, Ag Equipment Intelligence has gathered financial data from the filings of the ag industry’s key publicly-traded manufacturers and compiled its own list of these companies’ executives’ compensations.
Ag Equipment Recovery Slowly Improving
Ag equipment manufacturers reported industry recovery continued to move forward in the third quarter with significant improvement in the latest Agriculture Industry Conditions survey conducted by the Assn. of Equipment Manufacturers (AEM) in October 2020.
Rural Lifestyle Equipment Dealers’ Optimism Remains Strong
Rural equipment dealer confidence had been soaring for 2 years. Then 2020 happened — a year like most had never experienced. Uneven demand. Uncertain supply chains. Rising costs.

Ag Equipment Recovery Slowly Improving

The Future of AGCO After Richenhagen

MacDon Group President to Retire

Tractor Sales Finish 2020 Up 17% in U.S., 10% in Canada

Mergers & Acquisitions

CNHI Completes Acquisition of 4 Divisions of CEG in South Africa

Agri-Service Acquires Rathbone Sales in Moses Lake, Wash.

Farmers Supply Co. Merges with H&R Agri-Power

Earnings Reports

Lindsay Corp. Reports 1QFY21 Irrigation Revenues Up 4.8%

Buhler Reports FY20 Revenues Up 8.9% Year-Over-Year

Claas Reports FY20 Sales Up 3.7%, Strong Sales Growth in North America

Webinar Replay

Opportunities in the Changing Economy

Featured Video

Net 32% of Dealers Report Used Inventory Levels ‘Too Low’

Data & Trends

Farm Household Income Forecast to Increase for Commercial & Intermediate Farms in 2020

Full Year 2020 Tractor & Combine Sales — U.S. & Canada

Ag Equipment Manufacturers — Executive Compensation

Ag Equipment Recovery Slowly Improving

Rural Lifestyle Equipment Dealers’ Optimism Remains Strong

Podcasts

[Podcast] On The Record: Dealers Continue to Report Inventory Concerns

[Podcast] On The Record: Farmers’ Ag Machinery Purchase Plans Improve

[Podcast] On The Record: Judge Sides with Dealers in North Dakota Dealer Protection Law Ruling

Featured Products

2021 Dealer Business Outlook & Trends — Farm Equipment Forecast

Brand Loyalty in the Farm Equipment Business — 2020 (PDF)

Shortline Farm Equipment in California: Market Potential for Manufacturers (PDF)

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Farm Household Income Forecast to Increase for Commercial & Intermediate Farms in 2020

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