Recession Reaches Machinery Industry Across the Atlantic

August 10, 2009 04:46 AM
 
In the second quarter of 2009, the sales of the German agricultural machinery industry were 27% below the figures of the previous year. According to the VDMA Agricultural Machinery Association, the recession has now fully reached the industry. However, comparisons which only refer to the boom year 2008 are difficult. If 2007 is chosen as a reference year, sales decreased 3%.
 
In the first three months of 2009, the manufacturers were still able to keep their sales almost at the high level of the previous year, and the half-year balance was more positive. From January until June, sales were 15% below the figures of the previous year and 9% above the level of the year 2007.
 
The tractor manufacturers have restricted their production disproportionately. Their sales dropped by 37% in the second quarter and by 21% in the first half of the year. In the first six months, 27,100 tractors left the assembly lines. A comparably low production quantity was most recently measured six years ago.
 
The entire number of orders received for the domestic and export business of the German agricultural machinery industry ranged 23% below the level of the previous year in the period from April until June. It is foreseeable that the sales reduction is going to continue to a similar extent as in the past months.



For More: VDMA Agricultural Machinery Association

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