Revenue for the quarter was $64.6 million, up $4.8 million from the prior year second quarter, representing an 8% increase over the prior year and continuing the sales growth seen in the first quarter.
The risk of every dealership is in used equipment. So much of a dealership’s profitability is directly tied to its ability to generate cash by selling its used inventory.
The risk of every dealership is in used equipment. So much of a dealership’s profitability is directly tied to its ability to generate cash by selling its used inventory.
The best way to work with the marketing department is to drive content to them. I have worked with some great marketing people — but few have paid attention to equipment inventories because it’s not their job.
In this podcast recording from Farm Equipment, 3 farm equipment dealers share their expertise for the levers that work best to get the behaviors that dealers want and need relative to used equipment inventories.
In this podcast recording from Farm Equipment, 3 farm equipment dealers share their expertise for the levers that work best to get the behaviors that dealers want and need relative to used equipment inventories.
In over 30 years of working in the parts department at Kern Machinery, Chris Schott has seen a lot of changes. When he first started, a 24-hour turnaround on getting a part was amazing. “That’s not good enough any more. There are thousands and thousands of dollars on the line, so 24 hours is too long,” he says. “That creates the need for more inventory because customers want solutions and they want to be rolling now. If they have a piece of equipment down, they may have 3 pieces that operate behind it that can’t operate because the other one’s down. Well that adds up to big money fast. Downtime is a big thing for our customers and they’re under a lot more pressure.”
The most recent figures released by the Assn. of Equipment Manufacturers indicates that North American inventories of new tractors and combines are improving vs. a year earlier. This may come as little comfort to 40% of dealers who say they still have “too much” new equipment on their lots.
Any farm equipment dealer who's been around more than a few years knows how dramatically this business has changed. For one thing, everything about agriculture seems to have gotten bigger: bigger dealers with bigger sales territories; bigger customers with bigger demands; bigger and more expensive equipment; bigger top and bottom lines.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take a look at the preliminary results of the 2024 Ag Equipment Intelligence Outlook & Trends report.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
Montag is the industry’s innovative leader for precise, accurate metering of fertilizer, seed and other nutrients. The Montag system has become the standard for deep banding of fertilizer. Montag is also pioneering the technology for cover crop seed application. The new Cover Crop+ is able to meter the smallest seed, and can be mounted to tillage implements, combines, plus Hagie sprayers and detasselers.
Finance Scope is able to provide the best financing opportunities for equipment dealers and customers through a diverse mix of lending companies under one single platform. Our large group of lenders, allows for competitive rates regardless of credit scores. Additionally, dealers and customers have access to the industry’s best expertise surrounding finance and lease structures, for all purposes, within the agricultural and construction industries. We provide all of this into one online platform to provide our customers with the best available tailored finance solution for their equipment.