Indian multinational Mahindra announced a plan to open its second factory in Brazil due to the rapid growth in the Brazilian market. The company already accounts for 5.2% of the country’s tractor market.
On August 4, Ag Equipment Intelligence participated in a presentation alongside 4 equipment dealers to a group of dealers and farmers from Brazil that was on a weeklong benchmarking tour in the Midwest.
John Deere announced its financial unit in Brazil had collaborated on a new entity named InovaBra. The ownership of the new unit will be shared with Bradesco, one of the largest retail banks in the country.
Brazil’s Agriculture Minister, Marcos Montes, announced during a government event in May the resources for the Crop Plan, the government program that subsidizes farm investments, during the 2022-23 season.
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In this episode of On the Record, the latest Dealer Sentiments Report shows that dealers inventories of both new and used equipment are improving despite being too low. In the Technology Corner Noah Newman talks with Verdant Robotics plans to scale its fleet. Also in this episode, Titan Machinery reports record results for the third quarter of fiscal year 2023 and Farm Credit Canada forecasts tight machinery inventories well into 2024.