Deere's worldwide sales of agriculture and turf equipment are forecast to decrease by about 25 percent for fiscal-year 2015, including a negative currency-translation effect of about 5 percent.
Lower commodity prices and falling farm incomes are continuing to pressure demand for agricultural machinery, with the declines most pronounced in higher-horsepower models.
Conditions are more positive in the U.S. livestock sector, supporting some improvement in the sales of smaller sizes of equipment.
Based on these factors, industry sales for agricultural equipment in the U.S. and Canada are forecast to be down about 25 percent for 2015.
Full-year 2015 industry sales in the EU28 are forecast to be down about 10 percent, with the decline attributable to lower crop prices and farm incomes as well as pressure on the dairy sector.
In South America, industry sales of tractors and combines are projected to be down 20 to 25 percent mainly as a result of economic uncertainty in Brazil and higher interest rates on government-sponsored financing.
Asian sales are projected to be down moderately, with most of the decline in India and China.
Industry sales in the Commonwealth of Independent States are expected to be down significantly due to economic pressures and tight credit conditions.
Industry sales of turf and utility equipment in the U.S. and Canada are expected to be flat to up 5 percent for 2015, benefiting from general economic growth.
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