Tomahawk, WI 07/10/2014 (Basicsmedia) – General Electric Company’s (NYSE:GE) capital commercial distribution finance Canada, released the results of a survey that the impact on the sales of farm equipment will be positive. This is due to the fact that this year a better harvest is expected which will force the dealers, manufacturers, suppliers to boost the sales compared to previous year.
Contradiction among respondents
There are contradictions in the expectation from the harvest this season. About 77% of the respondents favor the harvest to be either better than the previous year or somewhat similar to the previous year’s yield. 20% of the respondent disagree to the same and predict the harvest to be worse and unsatisfactory. Similar records were found during the seeding season too. About 78% respondents characterized the seeding season to be better or same and around 18% thought it to be worse. The case is similar with the inventory of dealers too. 48% say that the inventory was same, 38% feel that it was higher and 12% of the dealers feel that their inventory was lower.
President of CDF’s Canada business, Mr. Howard Shiebler said that farmers were put into pressure due to late seeding season because of cold spring temperatures. The harvest season is being compressed and will make it mandatory for the harvester to use enhanced and better equipment to achieve a good yield. So many farmers will be upgrading the equipment for increasing the soil output.
CEO of the General Electric Company (NYSE:GE) capital, Mr. Neeraj Mehta expresses his views and has an opinion that GE is a leading capital provider for equipment dealers and OEMs across North America being a strong power in the agricultural industry. Another significance of the financing is that they are highly flexible which will help dealers in managing their inventory in accordance to the harvest.
The respondents included dealers, manufacturers and suppliers active at Prairie Provinces of Alberta, Saskatchewan and Manitoba.CDF works with the manufacturers and dealers to optimize their finance and inventory, this is an effective business model of General Electric Company (NYSE:GE).