According to the head of the machine-building giant, the industry is going through a period of stagnation, and low demand is forcing companies to adapt to new economic conditions. The Chairman of the Fendt Management Board noted that Chinese brands are actively entering the European market, offering cheaper alternatives in the low- and medium-power tractor segment. Christoph Groblinghoff believes that this puts additional pressure on “traditional manufacturers who have to rely on innovation and digitalization.”
“We do not expect sales to grow significantly in the next two years. Only in 2027 can the market start to return to stable growth rates,” said Christoph Groblinghoff, writes Agrarheute.
Despite the difficult situation, the company continues to invest in the development of new technologies. In particular, it is about the introduction of autonomous driving systems and environmentally friendly engines, which should become the main advantage of European machinery in the fight for a demanding customer.
