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Zetor management has already announced that they will end the production of their own engines and gearboxes in Brno, and will buy them from Italy and Germany. The marketing, development and sales departments will continue to be located in Brno, and the factory will assemble tractors for Europe and the USA.
“In 2023, Zetor Tractors faced challenges that affected its performance and financial stability. Despite an initial increase in tractor sales in early 2023, sales fell sharply throughout the year. On the one hand, it was due to the import of cheaper goods from Ukraine, which caused a fall in the purchase prices of goods in the EU, the fall in markets was also affected by high financing interest rates and inflation. So farmers could not cover all the production costs and started to cut back on consumption,” said the company’s management in its annual report.
He said that one of the most important market declines was recorded by the company in Poland, which was one of the most important markets for it. According to Zetor management, the decrease in demand was evident throughout the European Union and increased the number of tractors in stock. The company was also under pressure from suppliers who raised the prices of raw materials and services due to the increase in inflation.
In 2023, the tractor manufacturer presented a prototype of a new model series that will replace the existing Forterra and Crystal series in its portfolio. Zetor is also designing other model series.
Photo: Zetor
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The Brno-based manufacturer produced 1,044 tractors in 2023, compared to 1,749 tractors a year earlier. Sales have decreased in the same way, from 1,734 tractors in 2022 to 1,026 last year.
The Zetor brand was first created as a division of Zbrojovka in Brno, the first three tractors were delivered to customers in March 1946, from the same year a trademark was also registered, which combines the t -old name of Zbrojovka “Zet” with the ending of the word tractor. The company moved to its current site in the mid-1950s. After the fall of the communist system and the collapse of traditional markets, the company passed the brink of existence.
| Year | Sell tractors in pcs | Profit/loss in millions of CZK | Sales of products, goods and services in CZK billion |
|---|---|---|---|
| 2014 | 4178 | 275 | 3,8 |
| 2015 | 3773 | 144 | 3,7 |
| 2016 | 3144 | 102 | 3,2 |
| 2017 | 2765 | 117 | 2,9 |
| 2018 | 2080 | – 149 | 2,3 |
| 2019 | 2090 | – 114 | 1.96 |
| 2020 | 1788 | – 217 | 1.86 |
| 2021 | 1769 | 206 | 2,23 |
| 2022 | 1734 | – 103 | 2,34 |
| 2023 | 1026 | – 272 | 1.63 |
Source: company annual reports
2024-08-18 15:00:00
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