Tractors
Rising inventories and declining auction values strain dealers, farmers, and manufacturers, leading to layoffs and financial pressures across the industry.
Machinery Pete says it could be dangerous to rely on past equipment sales patterns
Highlights included a restored 1971 International Harvester 1456 and many late model tractor and combine deals.
Cory Reed, president of Worldwide Agriculture & Turf Division, spoke about layoffs, citing lower demand due to falling net farm income, higher interest rates and market volatility.
June sales of tractors dropped 16% compared to 2023, while combine sales were down 31%.
A quick summary of farm machinery and ag tech news you might have missed if you weren’t paying attention.
The new 6M tractor can be customized to provide farmers large tractor features - such as integrated connectivity and Intelligent Power Management - on a midsized machine.
Farm machinery industry news briefs and notes for the week of June 23, 2024.
Layoffs are slated to hit the Des Moines, Iowa, Bridgestone-Firestone plant where the majority of Firestone’s line of agricultural tires are produced. The exact number of affected employees has not been confirmed.
John Deere has had a busy 2024 thus far, but a large round of employee layoffs are taking place in Iowa.