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Economy affecting equipment market
Tighter farmer margins are affecting the ag equipment market for 2025.
Kurt Coffey, vice president of Case IH says as farmers continue to navigate a tough agricultural economy, purchasing habits have changed. He says, “If people are capable of generally of deferring the purchase in 2025, many are.” He tells Brownfield, “We’re seeing purchases where there’s the need for replacement demand or there’s the business case for an upgrade because of a technology or a productivity feature.”
Coffey says the company projected the market to decline anywhere from 20 to 30 percent from 2024 to 2025. “Generally, that’s what’s playing out. Some areas are better than that and some categories are worse.”
He says in some cases, technological advancements are still a selling point because there is a significant return on investment even in the down economy.