These and more new products are all part of a five-year strategic business plan by CNH Industrial to grow its market shares. Called ‘Transform 2 Win’ and announced today at the New York Stock Exchange, the ambitious plan, which runs from 2020 to 2024, will see CNH Industrial split its on-highway and off-highway divisions.
A significant growth is planned in product development and $5.6 billion will be invested in R+D just on the ag side during the next five years.
Part of a plan to increase ag net sales by 30.0% to nearly $16 billion by 2024, CNH Industrial agricultural president Derek Neilson provided a few pointers of some of the things we can expect on the product front.
Case IH and Steyr will be re-positioned as premium brands. “We will do this quickly,” he said, “and there will be increased product differentiation in Europe.”
“We are investing heavily in Steyr as a premium EU short liner with cutting edge technology and styling for top end farmers. We are also open to partnerships with premium European implement makers for the brand.”
A large chunk of the R+D spend is earmarked for a new sub-100hp global platform tractor range. Expected to be out next year, the target is to make 100,000 units a year. Also in the pipeline for the not too distant future is a range of natural gas powered tractors, and the company is actively pursuing alternate propulsion systems.
New harvesting products in development include the next generation of rotary combine, the optimisation of combine header capacity and robotics. The next generation of self-propelled harvester and sprayer are also in development, as is a new premium baler, and the tillage line-up will be optimised.
The number of precision and digital solutions will be doubled by 2024, and the AgXtend product offering will be expanded next year. Numerous electrification, autonomous and fuel cell projects are underway.
“We are excited about our new strategy and are at a defining moment in CNH Industrial history,” said CNH Industrial CEO Hubertus Mühlhäuser.