Farms.com Home   Farm Equipment News

CNH Industrial: It's Getting Hard to Raise Prices

In a July 30, 2023, article in Crain’s Chicago Business, CNH Industrial said it’s getting harder to pass price increases on to customers. In the wake of Russia’s invasion of Ukraine in 2022, which disrupted grain exports and caused wheat prices to hit record highs, many farmers have been upgrading machines, Crain’s said. However, as harvests and prices normalizing while interest rates rise, farm profits are easing.

“We’ve been clear we have no intentions of decreasing pricing, but we think limiting how much we increase it is probably the right thing to do at this point,” says Scott Wine, CEO of CNH Industrial, in the article.

Used inventory of crop-cutting combines is increasing in North America, said Crain’s. In Ukraine, where CNH has a large market share, farm equipment sales have dropped by 50% this year, Wine says.

Crain’s cited CNH’s Q2 earnings report, saying shares of CNH fell by as much as 7.4% after it missed even the lowest analyst estimate for revenue in the second quarter. It added that sales of ag equipment, which account for most of the company’s business, trailed the mean analyst forecast by 6.3% while the company is still expected to hit a record of over $19.5 billion this year.

Crop prices are “down from a high, but I think we’re still at reasonable levels there,” Wine says. “Overall, the farmer income levels are still quite strong.”

Source : Farm Equipment

Trending Video

2025 AFSC Women in Ag Winner | The Maverick - Kendra Donnelly

Video: 2025 AFSC Women in Ag Winner | The Maverick - Kendra Donnelly

Kendra Donnelly is redefining what it means to be a leader in agriculture. As president of Ki-Era Cattle and Consulting, she has embraced a non-traditional approach to agribusiness, proving that finance, consulting, and sustainability are just as critical to agricultural success as hands-on production. Her work challenging long-standing manure management practices is changing the future of agriculture.

The Maverick challenges conventional norms and disrupts the status quo in the agricultural industry. They are bold leaders who challenge traditional practices and conventional norms within the agriculture or agri-food industry. They are known for taking calculated risks and embracing change to drive progress in the industry.