FarmTrac Troubles

[Ned Farlinger]

You've been attacking Kioti for years with your 'sky is falling' montra. Kioti just keeps putting their best foot forward with new well designed products. Looking at their farm show presence this year........Kioti is moving their act forward with BIG steps.

Don

Not according to the Daedong financial statements. Revenue from ops is not supporting big steps. To grow the company (those BIG steps you refer to) the company seems to look outside to raise cash which means selling pieces of the company or issuing debt which will have to be serviced. See the remarks preceding the cash flow statement.

The feel good statement regarding BIG steps, while sounding good, has no substantive back up.

 

[TBDonnelly]

Not according to the Daedong financial statements. Revenue from ops is not supporting big steps. To grow the company (those BIG steps you refer to) the company seems to look outside to raise cash which means selling pieces of the company or issuing debt which will have to be serviced. See the remarks preceding the cash flow statement.

The feel good statement regarding BIG steps, while sounding good, has no substantive back up.

You would have to understand where Kioti has been to see where there going. See what you want.

Don

 

[Ned Farlinger]

You would have to understand where Kioti has been to see where there going. See what you want.

Don

I see what it is. It's very clear (black and white) where they are. Actually, there is little relevance as to where they came from. The current market doesn't care but it might make for a nice, nostalgic laced story for some of their long time customers sitting around the parts counter.

 

[TBDonnelly]

I see what it is. It's very clear (black and white) where they are. Actually, there is little relevance as to where they came from. The current market doesn't care but it might make for a nice, nostalgic laced story for some of their long time customers sitting around the parts counter.

All is well in Greeneville. Have a good day.

Don

 

[MessickFarmEqu]

Congrats Ned for doing your homework and posting one of the most informed and thought out things thats been put up here in a long time.

 

[albmn10]

I wouldnt say that 2006 statments on Daedongs lack of innovation is well thought out. You forgot to add 2007 statements which shows a new long term partnership with Bobcat and Daedong . Which will basically add to the already 250 plus dealer ( Kioti ) nationwide dealer network to probably double that over the next year. So id say it will give some of their old time customers twice as many dealers now to discuss their (nostalgic laced stories ) at.. These are just cheap shots that have no place on TBN....

 

[DavesTractor]

Any news on FarmTrac lately?

 

[Ned Farlinger]

I wouldnt say that 2006 statments on Daedongs lack of innovation is well thought out. You forgot to add 2007 statements which shows a new long term partnership with Bobcat and Daedong . Which will bascially add to the already 250 plus dealer ( Kioti ) nationwide dealer network to probably double that over the next year. So id say it will give some of their old time customers twice as many dealers now to discuss their (nostalgic laced stories ) at.. These are just cheap shots that have no place on TBN....

I was absolutely not taking any cheap shots at Kioti, not at all. I made some comments based on Daedong's own financial statements and what my impressions are of the company without bashing the company, dealers or the product. I would say there are some forum members that let emotion overshadow the realities of Daedong in the compact tractor marketplace.

Regarding the Bobcat re-badging, at this point the market penetration of the re-badged tractors is minuscule at best. And remember, these are Bobcat dealers, not Kioti dealers. These re-badged tractors are but a small piece of their product offerings, they do not have to give them their full attention and most likely will not. I would not count on Bobcat dealers lighting the world on fire with some re-badged Kioti's part time. Full line, full time, stable Kioti dealers have to move the product for this company to succeed.

 

[Ned Farlinger]

Back to Farmtrac as Dave indicated:

This is really too bad, these are good tractors. This is a very tough market in what are tough times right now:

Farmtrac Tractors

 

[bluechip]

I don't know how this thread got diverted to KIOTI. I am a dealer for both (or was) and I can tell you first hand there is NO comparison between these companies and how they operate. I have seen NO evidence of financial woes with KIOTI, warranty claims and CO OP advertising reimbursements are creditied almost imediately and refunds of credit balance accounts happin in a matter of days, not weeks.

As for Farmtrac, a court reciever has been appointed and apparently negotiations continue with interested parties.