2Q Sales Decline for AGCO

AGCO reports net sales of $2.6 billion for the second quarter, down nearly 19 percent from the same period last year. The company cited delayed purchasing decisions in several parts of the world due to the difficult farm economy. In North America, retail tractor sales declined 13 percent for the first part of this year. The steepest declines were in higher horsepower categories. Combine sales are down by one-third year-over-year.