CNH Industrial reported on May 6 that its consolidated revenues for the first quarter 2020 ended March 31 were $5.5 billion, down 15% vs. the first quarter 2019. The company reported a net loss of $54 million compared to net income of $264 million for the same period last year.

According to a report from Reuters, CNH Industrial is planning to restart production at 4 of its facilities in Italy on May 4. This includes facilities in Modena, Foggia and two facilities in Turin.

According to multiple reports, ag equipment manufacturers are opening their facilities in North Dakota and will be implementing strict guidelines to create safer work environments for employees during the pandemic.

To demonstrate solidarity with its workforce, the CNH Industrial senior management team has elected to forego temporarily part of its compensation, including the Company’s Board of Directors have agreeing not to take any of their remuneration for the rest of year.

CNH Industrial announced a series of updates to its business operations amid the COVID-19 pandemic. Aside from changes to executive positions, the announcements have been fueled, at least in part, by the growing economic impact of the virus.

In a press release, CNH Industrial has announced the extension of its shutdown on its European assembly operations through April 17.

Turkey’s volatile tractor market crashed for a second year in 2019, plunging more than 45% to just short of 26,300 units, the lowest figure recorded by ag machinery trade organization Tarmakbir since 2009 when farmers bought just 13,700 tractors. At the same time, the country’s ag machinery exports continue to climb.

The latest episode of On the Record is now available! We hope all of our readers and viewers are staying safe during these unprecedented times. In this week’s episode we provide details on how some of the taxation and lending provisions of the CARES Act will help farm equipment dealerships. In the Technology Corner, Jack Zemlicka shares how some dealers are using remote support amid restrictions put in place because of COVID-19. Also in this episode: Titan Machinery annual revenues were up 3.5%, CNH Industrial announces management changes and Raven Industries acquires the remaining shares of Dot Technology.

Rocky Mountain Dealerships (TSX:RME), Canada's largest agriculture equipment dealer, announced an update with respect to the impact from the COVID-19 virus outbreak on its current operations.