Sales Fall at CNH But Beat Expectations

CNH Industrial recently posted a narrower-than-expected second quarter loss.

The company said the market was recovering more quickly than anticipated from the COVID-19 pandemic. Acting Chief Executive Suzanne Heywood said the group had all its plants and depots back in operation by May.

A 24 percent decline at constant currencies in second-quarter sales of industrial equipment was lower than anticipated at the end of the previous quarter.

“Some markets are coming back relatively strongly, including low horsepower tractors in North America … combines in North and South America and light commercial vehicles in Europe toward the end of the quarter,” Heywood said.

Source: Reuters