AGCO North American sales drop 27.5% in 2025

Farm equipment manufacturer AGCO saw sales slide in 2025 amid broader challenges facing the agriculture industry.

In 2025, crop producers “operated with tighter margins as corn, soybean and wheat prices stayed near breakeven levels amid ample global supplies and evolving trade dynamics,” AGCO Chief Executive Eric Hansotia said in today’s fourth-quarter earnings release. 

“Overall sentiment among crop producers remained measured as input costs stayed elevated and government programs played a larger role in supporting income,” he said. “As a result, demand for new equipment moderated further across all major markets, aligned with current farm economics and global trade conditions.”

Duluth, Ga.-based AGCO reported these full-year results:

• Net sales totaled $10.1 billion, down 13.5% year over year;

• North American sales dropped 27.5% YoY to $1.7 billion;

• North American tractor sales fell 10% YoY;

• North American combine sales decreased 27% YoY;

• Total assets rose 6.6% YoY to $11.9 billion; and

• Total liabilities: $7.4 billion, up 2.9% from $7.1 billion at year-end 2024.

The company expects high borrowing costs and tight credit standards to continue to strain equipment sales in 2026, according to the release.

However, AGCO is hopeful that new product innovations and cost-cutting initiatives will “help balance the effects of low levels of farm profitability and persistent trade-related uncertainty, while positioning the company to deliver improved performance in 2026,” Hansotia said.

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