Farmers and ranchers have had to make some tough decisions over the last few years.
Ag equipment manufacturers have also felt the pinch, with more farms cutting back on capital purchases, like tractors. CNH says it is trying to meet farmers where they are.
“It’s in the challenging times that we need our machines to be part of the solution, right? If we can be more productive, if we can get more yield, if we can get more out of the crop, if we can make farming easier and make it more productive, we can help that financial equation even in times when the economics aren’t great,” said Scott Harris.
Tractor and combine sales have been slipping for several months now, as overall sales have fallen nearly 14 percent during March. The Association of Equipment Manufacturers shows tractor models with 100 or more horsepower were down 19 percent on the year.
