CNH Industrial maintains record sales pace in rough economy

Driven by higher volumes in South America and despite challenges with higher freight and raw materials costs, sales for construction and agricultural equipment manufacturer CNH Industrial increased year-over-year in 2022 by 21 per cent to $21.5 billion.

CEO Scott Wine said the company’s construction division saw a 2022 Q4 increase of 16 per cent to $983 million with strong momentum from the Sampierana integration, manufacturing improvements and enhanced customer focus.

The company’s portfolio of construction equipment is sold under three brands: Case Construction Equipment, New Holland Construction, and most recently, Eurocomach, part of the portfolio acquired with Sampierana.

He noted that sales for the year were also up 16 per cent within the construction division with noteworthy growth in Europe and South America.

“Organic growth accounted for about two-thirds of the increase with the remainder attributed to Sampierana,” Wine said. “Their excavator portfolio and technology innovations have enhanced our ability to meet customer needs, and their Eurocomach platforms provide an outstanding foundation for electrification.”

In the third quarter, CNH started selling Sampierana compact excavators in Europe under the Case and New Holland brands, opening a new assembly line to increase the capacity for those products, which it will begin exporting to other regions in 2023.