The reason for the increase in sales volume is that Agco, Fendt’s parent company, among others, sold more parts and tractors in higher power classes in Europe and the Middle East. Photo: Agco
American machinery manufacturer Agco, parent company of the Massey Ferguson, Fendt and Valtra tractor brands, reported sales of $3.7 billion in the first half of 2023. This is almost 30% more than in the same period last year.
rotation egco to $7.2 billion in the first half of 2023. Positive indicators were already evident in the first quarter of this year. At the time, the company reported sales of $3.3 billion.
More tractors were sold in the higher power classes
The reason for the increase in sales is that AGCO has done a good job in Europe and the Middle East. The machine manufacturer sold more parts and tractors in the higher power classes there. In the first half of 2023, this was 3.7 billion turnover. That was 2.8 billion in the same period last year.
Divided by country, Italy and Spain lag behind. This loss is offset by growth in France, Germany, the United Kingdom and Turkey.
Author: Robin Lowman
Also read: Turnover Agco to increase by more than 13% in 2022
Related tags:
AGCO, operating results, half-year results
