Cervus Shows Gain in Used Equipment Sales

Cervus Equipment, one of Deere’s largest dealership groups, posted a 6 percent drop in consolidated revenues for the first quarter of 2019, ended March 31. Revenues from its equipment sales during the first three months of 2019 were down nearly 10 percent compared to 2018.

Used equipment revenue in the dealership group’s agriculture segment set a record for the first quarter, increasing 21 percent compared to the first quarter of 2018.

A weaker Canadian dollar increased the cost of new equipment and contributed to a 19 percent reduction in new equipment sales from record high sales in the first quarter of 2018.