Following the downturn in the agriculture economy, a majority of precision farm equipment dealers expects sales to slow. Only 40 percent of dealers expect some growth in their precision farming sales due to the continuing headwinds in agriculture. Still, precision farm equipment dealers remain optimistic. A benchmark study found only 21.1 percent of dealers expect any fall off in revenue, a considerable improvement from last year’s results when 35.5 percent of dealers predicted declining revenues.
The percentage of dealers reporting declines of 7 percent or less in 2015 revenue was about 2 percent less than forecast in last year’s benchmark study. When it comes to predicting strong growth, however, fewer dealers expect a significant gain in sales dollars in the precision segment of their business. The survey shows just 1 in 10 dealers are projecting revenue increases of over 8 percent for this year.
Source: NAFB News Service