MIP #413 Presented By Axon Tire An Outlook for 2024 With John Kennedy

Summary
In this episode, Casey Seymour interviews John Kennedy from Axon Tire. They discuss various topics related to the agriculture equipment market, including the cotton market, struggles in the small equipment market, the impact of interest rates, supply chain challenges, and the Outlook for 2024. They also talk about the effects of COVID-19 on the industry and the importance of tire supply. The conversation provides insights into the equipment market's current state and the challenges farmers and dealerships face.

Takeaways
-The cotton market has been affected by drought, leading to a challenging year for farmers.
-The small equipment market is struggling due to a lack of discretionary spending and the impact of drought.
-Interest rates are a significant factor affecting equipment sales, with high rates making it difficult for farmers to afford new machines.
-Supply chain challenges have affected equipment availability, particularly in the large ag market.
-The replacement tire market is expected to grow as farmers keep their used equipment longer.
-Uncertainty is a common sentiment among farmers, with many cautious about making new equipment purchases.
-Steel prices and tire supply have stabilized, but the overall market remains uncertain.
-The equipment business is evolving, shifting towards upgrade kits and focusing on reconditioning used machines.
-The Outlook for 2024 is uncertain, with factors like interest rates and supply chain issues impacting the market.


Chapters

00:44 Cotton Market and Drought
02:00 Struggles in the Small Equipment Market
03:00 Impact of Interest Rates on the Equipment Market
05:51 Supply Chain Challenges
07:23 Replacement Tire Market
09:42 Uncertainty in the Agriculture Market
10:39 Tire Supply and Steel Prices
12:48 Effects of Interest Rates on Equipment Sales
15:17 Changes in Equipment Dealerships
17:44 Evolution of the Equipment Business
19:49 Outlook for 2024
20:46 Christmas Plans
21:38 Closing Remarks

Click To Watch:
https://youtu.be/4fyVLcbEScE

Music By: @TalbottBrothers

Host: Casey Seymour @casey9673
#agequipmentbusinesstal #letsgomovesomeiron

Contact Me at:
MovingIronLLC.com
movingironpodcast@movingironpodcast.com