They made a false demand for combines even putting combines on dead peoples names. John Deer put fear in the Dealers to buy combines before all the increases in price. Now stop and look at the dealership around the yards are full of new machines NOT SOLD. Last year they said you have to wait till 2010 harvest for one, now you can drive one home today. Now dealers might not be paying for these dealership green boats, now JD gets hung for it. Poor farmers who fell in the false price increases, and thought this was just market demand.
yeah i agree with the 2nd to last post...if any combines were sold to dead people it was on the dealers part.... im sure deere or any of the big companies would probably not recommend or condone that haha..
Dealers can still buy machines without a name on them, the dealership just puts an order in with their name as the owner, its how alot of dealerships have 0 hour machines around. They foot the bill until they can resell it.
The owner of my local dealership said that was strictly forbidden and mother deere would be pissed if they found out that a combine was under any employees name. Every combine/tractor on their lot is used or new and sold before it arrives. I guess they are not as picky about stuff like that in your area.
John Deere has been screwing the harvest faternaty for its worth in the last couple of years. We have been feed all sorts of stories, most of it Bull S...t.
In 2003 a friend of mine brought the mid range JD self propelled spray rig, and in January 2009 he brought the latest model replacement. They were both purchased cash ,no trade deals The price differance for that 6 years was only $20,000. Where as Combine prices in that same period have increased by around 80%. The Dollar exchange rate being similar around the same time.
To add insult to injury the price of spare parts was increased by an average of 60% in the last 12 months
With Deers price gouging here in Australia, i as an owner of 5 JD Combines feel totaly abused by Deere and their Dealers and will certainly be getting quotes from other colours, with a totalt impartial approach
Wall street dragged everything down, even companies that were doing very well. Until the economy stabilizes stocks are not any sort of accurate indicator of how well a company is doing. Just look at fertilizer companies last year. They had record profits but their stocks still dropped.
I would disagree with some of those statements. First off every combine that comes out of the factory is already sold and has someone's name on it. Dealers are not allowed to buy a combine to just sit on their yard like the past. The only way a dealer has an unsold new combine is if someone bought it and then backed out of the deal. I wasn't aware of people "faking" combine ownership to get inventory but that would be the dealers and not the factory or mother deere.
Deere stock may be down, but CNH and Agco are down more, percentage wise. Deere now at 30 from High of 90s. CNH now $7 from high of $71 (all 52 week highs), Agco now $18 from high of $74. Deeres 1Q net profit down 45%, ag eqiupment sales up 18%. Commercial and consumer lines hurting them worse. Read the AP story from yesterday.