Used equipment inventories remain elevated. And while they are not as high as they were in 2023 and early 2024, Andy Campbell said it’s still too much pressure for this market to take.
According to the 2022 USDA Census of Agriculture, among equipment categories, forage harvesters and hay balers saw the largest declines in the number of machines reported on growers’ operations.
Kubota Corp.’s 2023 revenue increased 12.8% to $20.05 billion. Domestic revenue increased 6.8% from the prior year to $4.27 billion because of increased revenue from Farm & Industrial Machinery and Water & Environment segments of the business.
4WD tractors were the only segment to see year-over-year unit sales improve in January, according to the latest data from the Assn. of Equipment Manufacturers.
This year’s Farm Progress show saw manufacturers show off their latest, largest tractors, including Case IH’s Steiger 715 and Class’ Xerion 12.650 and 12.590.
In its 2Q23 earnings report released July 27, AGCO reported $704.1 million in sales of combines, application equipment and other machinery for the first half of 2023, a 65.7% year-over-year increase
In reporting its results for the first quarter ended March 31, 2023, AGCO said strong product demand has resulted in an elevated number of orders that could result in a 3-5% increase in production hours for 2023.
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.