CNH Industrial Ag Sales Fall 18%; Cuts Production to Reduce Inventories

Sales of CNH Industrial farm machinery — including Case IH and New Holland brands — declined 18% in the second quarter of the year to $2.5 billion vs. $3.1 billion a year earlier. Ag equipment sales during the first half of the year were down over 14% to $4.8 billion from $5.6 billion in the first 6 months of 2019.

Responding to fluctuating demand for its equipment, the company reduced production of tractors by 49%…

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