field notes IOWA


3Q YTD Ag Dealer Results = Uptick in Sales


TOM JUNGE, Iowa Field Director [tomj@ineda.com]


The IA-NE State of the Industry Survey 3rd quarter YTD results showed a surprising uptick in sales in all three departments compared to 2017. While sales were up slightly the first quarter of the year, dealers reported they experienced a very quiet summer, so I expected the survey to show that sales were flat for the year. What I didn’t realize, however, was the impact a wet harvest would have on sales in September. A flourish of sales activity for tracks, Mud-Hogs, used combines and grain carts helped push sales into positive territory. Here is a quick snapshot of the results:


New Equipment Sales up 13.4% Used Equipment Sales up 7.7% Net Sales up 9.1%


Parts Sales up 6.3% Service Sales up 4.6%


Survey results also showed that used equipment Inventory is getting closer to acceptable levels. One year ago, about one-sixth of the dealers reported they needed to lower inventories by 30%. Today, that number is zero. Nearly 40% of the dealers feel their used equipment inventory is where they want it to be or even looking to purchase used equipment to build up their inventory.


How does the year end? Dealers were reporting more quoting of equipment than expected, but did this pricing of equipment result in sales? The only fly in the ointment that dealers mentioned was the number of farm auctions before the end of the year and the strength of equipment sales on these auctions. Partici- pate in the next State of the Industry Survey conducted this month and find out.


DEALER APPRECIATION AT THE IOWA POWER FARMING SHOW


“NOW THAT’S A GREAT


FARM SHOW!” JANUARY 29-31, 2019


IOWA EVENTS CENTER DES MOINES, IA


The Iowa Exhibit Committee invites you to attend the Iowa Power Farming Show on Tuesday, January 29th and to hang around for a Dealer Appreciation Reception at the close of the show from 4:00 – 5:30 p.m. The committee recognizes that without dealer support, the show won’t be what it is today. This will be a great opportunity to network with your peers. (Note: Nebraska dealers were invited to the Nebraska Power Farming Show in December.)


6 | The Retailer Magazine | Jan/Feb


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