In the first 8 months of 2020, Fendt strengthened its leading positions on the German market. Starting with tractors above 0 hp with a 23.3% market share, and above 51 hp with a 28.4% market share, the company ranks first, with a large lead over competitors.
In the power range above 200 hp, Fendt ranks first with a 40.1% market share (nearly every second tractor above 400 hp is a Fendt from the 900 or 1000 Vario series).
This became known during the international Fendt 2020 conference held by AGCO corporation.
In total, according to the company, over the last 16 years the AGCO concern has invested around $1 billion in AGCO’s German divisions and in developing Fendt tractors.
Fendt continues to grow its market share in Europe – currently the company’s share stands at more than 10%.
On the global markets of North and South America, and the Asia/Pacific/Africa region, sales of Fendt tractors grew by 20% and stand at around 1,800 units.
Another important economic and strategic factor was the Fendt Momentum planter’s entry onto the markets of North America and Eastern Europe.
Because of the coronavirus pandemic, the corporation had to suspend tractor production and most of its harvesting-equipment production for 5 weeks. However, by the end of September, half of the tractor-production shortfall had already been made up, – says Christoph Gröblinghoff, vice president and head of the Fendt EME brand and board chairman.
According to the report, the Fendt 2020 strategy has turned out to be quite successful from an overall business standpoint. A new strategy is currently being developed.
