CNH Industrial ceases sale of construction equipment in China
CNH Industrial will stop all Construction Equipment sales in China effective December 31, 2022. In 2021, sales in this sector reached approximately $88 million. The company does not anticipate significant charges from this decision, which is part of its ongoing global turnaround plan. CNH Industrial reassures its commitment to existing CASE Construction machine customers and dealers in China, while other operations in the country will remain unaffected.
- Cessation of Construction Equipment sales in China may streamline operations and focus on more profitable segments.
- No significant charges expected from the cessation of sales activities.
- Loss of $88 million in annual sales revenue from the China market for Construction Equipment.
London, December 1, 2022
CNH Industrial announces that effective December 31, 2022, it will cease all Construction Equipment sales activities in China. In the course of 2021, sales of Construction Equipment in China totaled approximately
This decision is part of the Company’s ongoing turnaround plan for its global Construction business.
The Company remains fully committed to its customers and dealers in China and will continue to support the existing fleet of CASE Construction machines.
All other existing CNH Industrial activities in the country will not be affected by this decision and will continue without any change.
CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.
Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial’s 37,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.
For more information and the latest financial and sustainability reports visit: cnhindustrial.com
For news from CNH Industrial and its Brands visit: media.cnhindustrial.com
Contacts:
| Media Relations | Investor Relations |
| Email: mediarelations@cnhind.com | Email: investor.relations@cnhind.com |
Attachment
FAQ
Why is CNH Industrial stopping construction equipment sales in China?
What was CNH Industrial's construction equipment sales figure in China for 2021?
Will CNH Industrial continue other operations in China?
When will CNH Industrial cease its construction equipment sales in China?
