The CNH Industrial group collectively recorded a 2% reduction in revenue at $6.79bn for Q4 2023, down 2% on 2022. However, the group’s full year results were up 5% to $24.7bn on 2022 figures.

Of this $24.7bn figure, $18.14bn was generated within the agricultural division (New Holland, Case IH and Steyr brands), which yielded a 1% increase in year-on-year net sales from 2022. The construction and financial division was accountable for the remaining $6.3bn balance.

Like AGCO and other brands, CNH witnessed a more challenging Q4, which it noted was a result of lower industry volumes and a reduced global demand for the most part

Taking North America for example, its combine harvester market was back 32% in Q4 while the sub 140hp tractor market was back too, by 7%. However, tractors 140hp and above were up 19% proving that there is also a change in buying trends.

Collectively, EMEA recorded a 5% increase and 20% decrease within tractors and combine harvesters markets respectively, while Europe individually recorded respective decreases of 2% and 44%.


CNH Industrial forecast a sales reduction of 10-15% for agricultural equipment globally during 2024 in comparison to 2023. Meanwhile, it forecasts a 10% decrease for the construction equipment segment in 2024.