A near 13% increase in domestic market share helped the Argo Group maintain its economic performance in the face an industry-wide downturn last year, with global tractor sales revenues of €461 million down just slightly on 2014’s €465 million. “For the second year running, in 2015 the global tractor market experienced broad-based contraction with very few countries being the exception,” says chairman Valerio Morra of the Argo Group. “Despite this, we were still able to maintain our volumes and achieve satisfactory financial results.” Operating across four sites close to the town of Fabricco in northern Italy, the sales boost, which strengthened Argo’s number two position in the Italian tractor market, follows a €75 million, three-year R&D investment plan that has rejuvenated the Landini and McCormick product ranges with new and improved models from 43hp to 212hp. Further newcomers are on their way, says Argo. One of these includes the imminent entry into the 300hp sector following the previewing of the McCormick X8 VT Drive range at Agritechnica last year.
Advertisement