JD finance move
A JOINT venture between US-based John Deere Credit Group and Lombard has resulted in the creation of John Deere Credit. It is a move designed to provide dedicated in-house finance facilities for JD machinery purchases.
New managing director Stephen Parkes, points out that in the UK 80% of tractors and 95% of combines are bought using finance schemes. And on a global scale, financial services generate 17% of John Deeres net income. *