The latest report from Brazil’s Anfavea reveals that year-over-year tractor sales in December jumped by 19.2% and 11.2% compared to November 2018. For the full year, sales reached 39,301 units compared to 35,913 sold during the previous year, an increase of 9.4%.
Kuhn fertilizer spreader manufacturing partner Rauch will open what the company believes is the ag industry’s most sophisticated fertilizer application testing facility early this year.
Hay equipment specialist Krone chalked up another set of record results in its financial year to the end of July 2018, with ag equipment revenues up more than 10% at €642.3 million ($730.4 million). Add in Krone’s larger commercial trailers business and the group breached €2 billion ($2.28 billion) turnover for the first time.
Senior executives at Titan International worked during the Christmas and New Year holiday period to secure approvals for issuing stock to a co-shareholder in its Russian tire manufacturing operation to meet a settlement put option.
Fluctuations in foreign exchange rates had a negative impact of €20.5 million ($23.5 million) on Exel Industries reported revenues in its fiscal year to September 2018.
A partnership agreement between India’s International Tractors Ltd. (ITL) and Argo Tractors will result in the Italian manufacturer of Landini and McCormick equipment sourcing “utility” models from ITL for selected markets.
Celebrating the milestone of producing 100,000 tractors in the past year, John Deere India Pvt. Ltd. said it’s looking to increase its market share in the country that already has some of the largest volume tractor makers in the world, which include Mahindra, TAFE and others.
Escalating trade tensions between the U.S. and China is providing South American producers with opportunities to grow their market share in soybeans and other grains. This could lay the groundwork for increased farm equipment sales starting in 2019. In its most recent outlook, John Deere said it expects an improvement of up to 5% in South American machine sales in the year ahead.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.