AGCO
#You could see that as us being also conservative.
We had a little higher production than expected in our Europe business.
We did a little more in a couple of factories and we extended our shut down and lowered production in the second half to provide us a little runway room for some new products going in in the second half in some of our factories.
And so it was more of a timing and planning around the production schedule than anything else.
Hello, <UNK>.
So far we survived.
That's real demand.
Yes, we just come from a Board meeting in China where we showed the Board our investments.
And I can tell you that we are very proud of what we achieved.
We basically have a state-of-the-art tractor assembly factory.
In theory, we could assemble their fan tractors.
It's an improvement versus the fan factory, so that means we are really, in the area of manufacturing, we are really a top leader in our industry.
We want to position to recruit and hire 1,500 people, which is, of course, huge job to do, and our HR people really did a great job here.
So that means we have the factory.
We have the people.
And now I think there's an easy part, which is basically the export business from China to our existing markets, because we have distribution and we just, I say, people are pulling, so to say, the new product out.
When it comes to China, that's a longer process, because distribution is difficult.
China is huge, and that will take some time.
This is strategic, but <UNK> will answer.
But if that will be, let's say, if the huge new normal would be different from what we think it should be, then of course, you look into little bit more aggressive activities.
And we do that as a simultaneous engineering approach.
So that means our manufacturing guys look into this and look into the possibilities of maybe merging one or the other factory.
I don't think that we will do it.
But we want to be prepared in case it's needed.
Good morning.
In these down market conditions, it's always the fact that the markets are very competitive for the deals that are out there.
There's more competition.
It's pricing, and incentives are stronger.
And so pricing's weaker and incentives are stronger.
And so I think we'll see that for the rest of the year.
I would say that everyone's in the marketplace is being very responsible, but it's very competitive, as well.
The numbers are right, and we are performing, we are pretty much on track.
So it's basically the Segot market introduction in the European markets, in South America and in North America.
But this project is pretty much on track.
Yes, those two, I think both comments are pretty accurate.
On our Europe, Africa, Middle East, we're looking at flat to slightly down margins for the full year.
And then in South America, looking again for the same thing, flat to slightly down for the full year.
So we do expect a fairly substantial improvement in our South America margins in the second half to get us there.
That's right, yes.
