Titan International has entered into a definitive agreement for the sale of its Australian wheel business, to OTR Tyres, a local leading national tire, wheel and service provider. The closing date is expected to be Thursday, March 31, 2022.
The Australian government’s willingness to financially support agriculture (and other industries requiring heavy equipment) played a large part in the country seeing exceptional sales of tractors and other machinery in 2021 despite ongoing supply challenges.
National tractor sales in Australia ended a 5 year run of growth in 2018, ending 4.1% down on the prior year as buoyant business in some areas was more than offset by big declines in drought stricken eastern estates, according to the country’s national machinery trade body.
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In this episode of On the Record, Pinion Principal Marc Johnson forecasts 4-6% growth in large ag equipment sales in 2023. In the Technology Corner, Noah Newman takes a closer look at Verge Ag’s Equipment Explorer, which was launched at the 2023 Precision Farming Dealer Summit. Also in this episode, a preview of the 10th annual Precision Farming Dealer benchmark study and a look at ag retailer sprayer purchase plans for the year ahead.