Deere & Co. recently released its retail sales comments for the month of November, which compares the company’s sales with that of the industry in North America. The commentary shows that Deere saw similar or stronger sales than the overall industry in most equipment categories.
Deere’s sales of compact tractors (less than 40 horsepower) were better than the industry, which recorded an increase of 4% over a rolling 3 month period in November. Deere’s inventory of compact tractors was slightly lower than that of the industry, which was 51% of the previous 12 months’ retail sales.
Sales of Deere midsize tractors (40-100 horsepower) were also more than the industry, which saw sales rise 2%. Deere’s inventory of midsize tractors was lower than the industry’s 56%.
High-horsepower tractor (100-plus horsepower) sales decreased 2% across the industries, with Deere’s sales for the category falling by more than that. Deere’s inventories of high horsepower tractors was lower than that of the industry, which was 48% vs. the previous 12 months of retail sales.
Deere saw sales of 4WD tractors in November that were in line with the industry, which saw an increase of 7%. Deere’s inventory of 4WD tractors was slightly lower than the 32% recorded industrywide.
Industry sales of combines fell by 4%, while Deere saw sales increase by a single digit. Combine inventories were lower for Deere than the industry’s 17%.