Net sales for the agriculture division of CNH Industrial decreased 7 percent in the second quarter of 2019 compared to the same quarter last year. On a constant currency basis, sales were down 3 percent.
In its outlook statement, the company noted that trade tensions remain unresolved and recent weather events in North America, Australia and Northern Europe have negatively affected the industry. Cyclical replacement demand remains stable. The low levels of used equipment inventories are supporting new equipment sales in North America.