CNH Industrial closes fiscal year 2024 with 20% revenue decline
CNH Industrial has closed fiscal year 2024 with total revenue of approximately €19.2 billion, marking a 20% decline. The company anticipates further revenue decreases in 2025.
CNH Industrial, the parent company of brands such as New Holland, Case IH, Steyr, and Raven, generated €19.2 billion in sales of machinery and services in 2024. This represents a 20% drop compared to its 2023 annual revenue.
Around 70% of CNH Industrial’s revenue comes from its agricultural division. The annual revenue for this segment fell by 23% last year. Revenue from construction equipment sales decreased by 22%, while income from financial services grew by 8%.
2025: inventory reduction a key focus
CNH Industrial expects both the agricultural and construction sectors to shrink further in 2025 compared to 2024. The company is prioritising the reduction of excess inventory in its sales channels by producing fewer machines than the current market demand.
In the financial report, CEO Gerrit Marx stated that dealer inventories were reduced by $700 million in the fourth quarter by cutting factory operating hours by 34%.
Marx also noted that difficult market conditions will persist at least until mid-2025. As a result, the company expects revenue from the agricultural sector to decline by 13-18% next year, while the construction division’s revenue is projected to fall by 5-10%.
