Robust Tractor, Combine Sales Boost Manufacturer Revenues

October 21, 2010 08:20 AM
 

Industry unit sales for agricultural equipment in North America hit their highest sales month since 2008, according to a recent Association of Equipment Manufacturers survey. Tractor sales for 100-hp. units were up 43% year over year in September, following an increase of 45% year over year in August.

Combine sales were up 13% year over year in September, vs. up 18% in August. September combine strength follows a particularly strong August, and both months represent sales months higher than the 2008 peak in equipment sales.

As a result, September 2010 equipment industry dollar revenues were up 17% year over year, according to JP Morgan analyst Ann Duignan. This creates an upside into year-end on the back of strong cash receipts and pre-buying of agricultural equipment, she says. 

"We are forecasting robust sales into year-end," Duignan says. "Looking ahead, we are expecting a modest pre-buy in 2010, ahead of the 2011 emission standard changes."

Hear more insight from Duignan at the 2011 Top Producer Seminar in Chicago. Visit www.topproducerseminar.com for agenda and registration information. 

Back to news


 

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close