CNH Industrial revenues rose by just over 7% last year to $29.7 billion when compared to 2017 and net income increased by $466 million to $1.11 billion.
The agricultural equipment division (Case IH, New Holland and Steyr) contributed the largest share ($11.68 billion) of total revenues; up nearly 9.5% on 2017. The rest was split between the commercial vehicle ($10.93 billion), powertrain ($4.56 billion) and construction ($3.02 billion) divisions.
The increase in total farm equipment net sales was driven by a sustained price realisation performance, coupled with a stabilisation of end-user demand in most markets, including emerging evidence of a replacement cycle in the North American arable sector.
Business was affected during the second half of the year by escalating trade tensions and economic and political uncertainties (including Brexit), and a general expectation of a slowdown in global economic growth.
This year, CNH Industrial expects total net sales of around $28 billion.
