Farm equipment dealers on average saw sales decline slightly in October, according to the latest Ag Equipment Intelligence Dealer Sentiments & Business Conditions Update report.
The monthly survey of equipment dealerships found that sales were down 1% year-over-year in October, a slight improvement vs. the 2% declines reported in the September. A net 3% of dealers said they missed their sales plan, an improvement from the net 20% that missed their plan the prior month. Specifically, 22% of dealers said sales were better than expected, 53% reported sales were in line with expectations and 25% said they were worse than expected.
Dealers who carry shortlines or a manufacturer other than the five listed in the survey (AGCO, Case IH, Deere, Kubota or New Holland) saw the strongest sales growth in October, a 6% increase from a year ago. Of all major line equipment dealerships, John Deere dealers saw the greatest sales growth at 3%. By region, dealers in the Corn Belt saw the greatest sales growth in the month while dealers in the Mountain/Pacific region saw the steepest declines.
The full survey report can be found on the Dealer Sentiments report archive of the Ag Equipment Intelligence website.