CNH Industrial to discontinue the sale of construction equipment in China from 31 December, 2022

CNH Industrial to discontinue the sale of construction equipment in China from 31 December, 2022

(PRESS RELEASE) LONDON, 1-Dec-2022 — /EuropaWire/ — CNH Industrial (NYSE: CNHI / MI: CNHI), a world-class equipment and services company that sustainably advances the noble work of agriculture and construction workers, has announced its decision to stop selling construction equipment in China in effect from 31 December, 2022. The company had some $88 million (~ EUR 84 million) worth of sales of Construction Equipment in China last year (2021) and it does not expect to incur significant charges in connection with the cessation of its construction equipment sales activities in the country.

This decision is part of the Company’s ongoing turnaround plan for its global Construction business.

The Company remains fully committed to its customers and dealers in China and will continue to support the existing fleet of CASE Construction machines.

All other existing CNH Industrial activities in the country will not be affected by this decision and will continue without any change.

CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.

Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial’s 37,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.

For more information and the latest financial and sustainability reports visit: cnhindustrial.com

For news from CNH Industrial and its Brands visit: media.cnhindustrial.com

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SOURCE: CNH Industrial N.V.