A 21% increase in exports from Turkey’s biggest tractor-making enterprise last year was compensation for a 53% plunge in domestic sales as challenging market conditions discouraged farmers from investing in new power units.
During a call with Ag Equipment Intelligence regarding the current market situation in Brazil, the Brazilian Assn. of Machines and Equipment (Abimaq) blamed the lack of subsidized credit for the drop off in sales of farm tractors and combines in the past 2 months. In the beginning of 2019, the association forecast a 10% increase in total machinery sales.
Following a double-digit decline in ag machinery sales in 2018, Argentina’s agriculture is showing signs of recovery. USDA is forecasting a record crop 49 million metric tons of corn, jumping from 31.7 million metric tons in 2018, and a soybean crop of 53 million metric tons.
The June report from Brazil’s Anfavea says that farm tractor sales in May fell 9.5% year-over-year, with 2,562 units sold. At the same time, sales were up 2.6% compared to the previous month, when 2,495 units were registered.
Ireland has seen 54 forage harvester registrations so far in 2019, a 54% increase from the 35 registrations in 2018. Though it’s unlikely to move any higher considering the season, it shows a growing strength in Irish buying habits.
Continental, the technology company and manufacturer of premium tires, is expanding their production facilities in Lousado, Portugal, with investments totaling around €100 million The new capacity will be used for the production of radial Earthmoving and Port tires with a diameter larger than 24 inches.
The UK has seen an exploding used tractor market following England’s departure from the EU. Brexit’s impact on the British pound, coupled with dropping commodity prices have made a perfect environment for British farmers to purchase low-hour, high value machinery.
Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group today announced an investment of CHF 4.3 million (US$ 4.3 million) for an 11.25% stake in Switzerland based agri technology firm Gamaya SA.
AGCO, a worldwide manufacturer and distributor of agricultural equipment, has opened a new office in the northeast of Casablanca, Morocco. The new premises are to serve as the company’s regional sales office for West and North Africa.
Mahindra & Mahindra (M&M) plans to increase localization of its Scorpio pick-up at its factory in South Africa’s Durban, as it seeks to make deeper inroads into the adjoining African markets and get around trade barriers.
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In this week's program we look at a recent CoBank report on the potential for ethanol production growth over the next decade. Also in this episode, Jack Zemlicka discusses the post-planting mindset of "selling solutions" in the Technology Corner, and we dig into some of the results of the 6th annual Strip-Till Practices study from Strip-Till Farmer, another drop in machinery loans in the Dallas Federal Reserve district and improved 2Q revenues for Art's Way.
Learn actionable sales strategies from the most influential “Dealership Minds” in the industry — of every color, size and experiences — during this one-of-a-kind event July 30-31 in Peoria, IL. You’ll discover leading dealer-to-dealer sales strategies during this 2-day networking and idea sharing event.