Engine maker Deutz saw a welcome turnaround in demand and deliveries of diesel engines to agricultural and construction machinery OEMs last year, following a hiatus in the first year of the Covid-19 pandemic.
Concerns over component sourcing stability heightened by COVID-19 related supply chain disruptions are largely behind new long-term OEM agreements secured by Deutz.
John Deere and diesel engine specialist Deutz are to collaborate on a new generation of power units for off-highway applications with outputs of up to 174 horsepower (130kW).
In this week’s podcast, we dig into a report from the University of Illinois that projects an $89 per acre decline for the 2020 corn crop, which could point to a drop in tractor sales. And we take a look at preliminary results from both the latest Precision Farming Dealer and Strip-Till Farmer benchmark surveys. Also in this episode we look at deteriorating ag credit conditions and Deutz’s latest earnings.
The latest episode of On the Record is now available! In this week’s episode we dig into a report from the University of Illinois that projects an $89 per acre decline for the 2020 corn crop, which could point to a drop in tractor sales. And we take a look at preliminary results from both the latest Precision Farming Dealer and Strip-Till Farmer benchmark surveys. Also in this episode we look at deteriorating ag credit conditions and Deutz’s latest earnings.
Deutz, a global manufacturer of drive systems, registered an overall decline in business performance in the first quarter of 2020, as it had expected. This was due in large part to the global fall in demand in key customer industries – heavily exacerbated by the coronavirus crisis – which caused a further contraction in the reporting period.
Increased sales of diesel engines for agricultural vehicles contributed to a 3.5% or €62 million ($67 million) increase in revenues for Deutz last year to €1.84 billion ($2 billion).
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In this episode we look at the potential impact Hurricanes Helene and Milton will have on ag production as well as the dealers and manufacturers in the impacted region.