CNH Industrial cuts profit view as soft agriculture demand bites

Tractor makers CNH Industrial NV and AGCO Corp. reduce their outlooks for 2024 on declining sales of farm machinery. Growers continue to be squeezed by falling crop prices, they say. CNH: "Growers are getting squeezed by low crop prices"

CNH Industrial cuts 2024 profit view as soft agriculture demand bites. Farmers pull back on big purchases such as tractors and combines. Global crop prices have moderated while farm incomes have dwindled. A surge in demand for agriculture equipment early last year had also seen machinery dealers bulk up on inventories.