As the end of the year approaches, a clearer picture of how the machinery trade has fared becomes apparent although the picture for 2025 is not as bright as many were hoping 12 months ago despite the encouraging rise in tractor sales in Ireland.
The big three manufacturers have all recorded a decline in sales and revenue; AGCO reported net sales of $2.5 billion for the third quarter ended September 30, 2025, a decrease of 4.7% compared to the third quarter of 2024.
Net sales for the first nine months of 2025 were approximately $7.2 billion, a decrease of 18.4% compared to the same period in 2024
The other two
CNH fared no better; sales of its industrial products, which also includes its construction division, were 7% down for Q3 although for the year to date they did a little better than AGCO with only a 12% decline.
John Deere on the other hand has now completed its 2025 financial year and it too reports a 12% decline for the whole year compared to 2024. Its final quarter, however, was somewhat brighter with an 11% increase in sales.
The company notes that it is the large agri segment which is suffering most, its turf and small agri division remains relatively healthy.
Bottom of the dip
All three look upon 2025 as the low point in the sales cycle and anticipate some recovery in 2026 although they continue to de-stock the supply line through a reduction in production numbers.
Investment in technology also plays a big part in their plans going forward while AGCO also underlines its commitment to backing its premium brands, which is to say it may continue to promote Fendt more heavily, as was witnessed at Agritechnica.
Agritechnica also delivered another lesson to these big three, and that is that they are no longer alone in being able to provide high horsepower tractors to their traditional markets.
Chinese companies are now capable, on paper at least, of serving the larger end of the market and if western companies think that focusing on technology will keep them ahead then it should be borne in mind that they are probably relying on Chinese chips in the first place.
Claas maintains sales
Not all companies suffered in 2025, Claas managed to keep its head above water although it is more a harvesting company than a producer of tractors, a situation it is eagerly addressing through investment in new ranges.
Results for the 2025 year ending, which, like John Deere, runs ahead of the calendar year, show that the company maintained a high level of sales of €4.9 billion, €5 billion in 2024.
Again, Claas confessed that it was a challenging market this past year with global customer reluctance, especially so in North America when it comes to combine sales.
Sales in western Europe also declined slightly, while central Europe and central Asia saw a significant rise in of 7.9%. Strong sales in South America also helped offset the fall in North America.
Looking forward, CLAAS expects a slight market recovery in 2026, with a moderate increase in sales helped by a raft of new products that were introduced this year.
