CNH (Case and New Holland) Industrial is predicting that global demand for agricultural equipment will rise by up to 5% globally in 2018. The prediction for positive growth comes despite news that farm income is set to remain static for the coming year, leading to no significant changes in planted acreage.
The company also predicts there will be an increase in global demand for construction equipment and commercial vehicles.
Sales up 10%
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Net sales of CNH Industrial agricultural equipment increased 10% in 2017. Net sales in Europe, Asia Pacific and Latin America all increased due to a combination of factors, such as a higher industry volume and increased market share. However, sales in North America decreased as a result of "de-stocking actions” in the dealer network, primarily “with the high horsepower tractors and the hay and forage product lines”.
The company’s operating profits for the fourth quarter of 2017 was $279m, with an operating margin of 8.6%. Favourable volume, net price realisation and lower warranty costs were partially offset by an unfavourable product mix, higher manufacturing costs in Europe as a result of the transition to new regulatory requirements, and an overall increase in research and development spending.
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CNH (Case and New Holland) Industrial is predicting that global demand for agricultural equipment will rise by up to 5% globally in 2018. The prediction for positive growth comes despite news that farm income is set to remain static for the coming year, leading to no significant changes in planted acreage.
The company also predicts there will be an increase in global demand for construction equipment and commercial vehicles.
Sales up 10%
Net sales of CNH Industrial agricultural equipment increased 10% in 2017. Net sales in Europe, Asia Pacific and Latin America all increased due to a combination of factors, such as a higher industry volume and increased market share. However, sales in North America decreased as a result of "de-stocking actions” in the dealer network, primarily “with the high horsepower tractors and the hay and forage product lines”.
The company’s operating profits for the fourth quarter of 2017 was $279m, with an operating margin of 8.6%. Favourable volume, net price realisation and lower warranty costs were partially offset by an unfavourable product mix, higher manufacturing costs in Europe as a result of the transition to new regulatory requirements, and an overall increase in research and development spending.
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