Steyr will be positioned as a “premium brand” within CNH Industrial – the conglomerate that also encompasses New Holland and Case IH (alongside several other brands).
Speaking at a recent international press conference, Derek Neilson – president of CNH Industrial’s agriculture division – explained: “We will invest heavily in Steyr to strengthen its position as a premium European brand – leveraging its long-standing passion for quality and reliability…with cutting-edge features and styling across a full-range tractor portfolio aimed at the most professional and demanding farmers in Europe.
As a premium short-liner, Steyr is open to partnerships with implement brands that are complementary to its superior positioning.
He also said: “Case IH, supported by its strong heritage in North America, will remain a powerful and highly productive full-liner for professional producers.
“Leading-edge innovation and technology will enable the brand to become a tech leader, providing customers with the best-in-class experience.
“New Holland will continue to grow on the back of its strong harvesting expertise – operating as a full-liner.”
He also noted that many product developments – across the various brands and product segments – are “in the pipeline”.
He explained: “In tractors, we continue to leverage the leadership position of our FPT engines – to power and drive our portfolio.”
In particular, he noted: “In the sub-100hp range, we target annual production of over 100,000 tractors – based on a global platform.”
Splitting tractors from trucks
As part of its new five-year plan (which will run to 2024), CNH Industrial will also separate its ‘On-Highway’ (commercial vehicles and powertrain segments) and ‘Off-Highway’ (agriculture, construction and specialty segments) divisions.
This, in turn, will result in the creation of two new entities.
The ‘Off-Highway’ company, with 2018 pro-forma revenues of $15.6 billion, will be predominantly an agriculture company (75% of revenue), supported by the construction business (19% of revenue). The specialty vehicles segment (6% of revenue) will also remain within the ‘Off-Highway’ company.