It was in 2012 that Abe Hughes II, vice president, North America, New Holland, outlined the company strategy to rejuvenate its cash crop business. And they’re not messing around.
In its third year of the re-investment in the company – which has seen increased profitability over that time – New Holland makes its boldest statement yet for the cash crop market. In a kind of “back to the future” move, New Holland has brought back the Genesis name to a tractor model. The Genesis T8 is the largest fixed frame tractor the company offers, and will top out with the T8.420 with a peak horsepower rating of 419 hp, and a 367 hp rating.
The original Genesis 70 series tractor launched in 1993 for the 1994 season was a ground breaker with its styled hood, easy access maintenance, enhanced cab ergonomics and the first use of the Super Steer axle. And that’s just a short list of the features that machine offered to the market. The tractor, sold for 6 years, put 22,167 machines into the market and boosted New Holland market share from 4% to over 11% -for that tractor segment – in just six years.
Even today, the original Genesis has a solid resale value. At an event made available only to Penton/Farm Progress – Farm Industry News learned from dealer Cory Forrester, Forrester Farm Equipment, Chambersburg, Penn. – that there are Genesis machines on dealer lots commanding $75,000 or more today. That’s nearly 3/4 of its original list price value.
For 2014, the Genesis returns in that T8 form and along with that venerable brand name comes a host of new features.
This latest statement by New Holland, on the heels of the T9 launch in 2012, shows that the company is serious about the Cash Grain sector of the market. Abe Hughes, vice president, North America, notes that today New Holland is divided into three segments. “First there is the cash grain segment where New Holland is committed to products to meet this market need,” he says. “We support ethanol and have partnered with Growth Energy to help promote a product that brings jobs and promotes a steady income for farmers. Our second most important segment is the dairy and livestock segment. New Holland was built on hay and forage.”
And Hughes explains the third segment is the Pro Work Tools which Hughes says is a fancy name for the construction equipment that has come back to the New Holland name, along with the compact tractor segment.
This three segment approach allows the company to manage the marketing strategy for these often unique markets. Hughes notes that the dealer organization, which he says will remain the family based business that has shown success with the company, will get access to specific market segments. The dealer strategy differs from competitors in that Hughes sees value in a smaller family-owned dealership segment where two, three or four stores will be enough to serve specific market areas.
Check out the gallery to learn more about the new features of the Genesis T8 and dig in a little deeper into the company’s future strategy.
The Pennsylvania dealer Forrester did share an interesting story about the new machine. He’d been given a sneak preview of the T8 and when he was home showed it to his 12-year-old son. First response from the son: “We have to get one of these.”
Forrester- who also farms – explained that the new tractor would cost as much as a new house. And the son’s reply: “[A house] would not be near as cool would it?”
Retail pricing for the new Genesis T8 with its enhanced features has not been officially announced. You can learn all about the new machine at a special website genesis.newholland.com.
(Source – http://farmindustrynews.com/row-crop-tractors/first-look-return-genesis)