New AGRIEVOLUTION report predicts further drop by the end of the year.
Following the record year of 2013 - with an estimated global production of 2.15 million tractors - the trend for 2014 is “bearish”, as major markets have shown weaker demand in the first half of this year.
Market performance differs greatly from region to region and country to country:
- North America: sales have even surpassed the high level of the previous years
- Brazil, France and China show considerably weaker demand
The total trend for the countries represented in the Agrievolution network was a 7% decrease from
January to June 2014, compared to a 5% growth in the corresponding period of the last year.
For the full year 2014, this downward trend is expected to accelerate given weaker market expectations in India and Europe.
