CNH Global reported Q1/13 net sales of $4.7 billion encompassing agriculture equipment sales of $3.9 billion (84%), up 9% from the same quarter in 2012, and construction equipment sales of $754 million (16%), down 26% compared to $1,024 million in Q1/12.

CNH said its agriculture net sales improvement was driven by increased volume, positive net pricing and favorable product mix. Construction equipment sales decreased as industry unit demand slowed in every region with light equipment down 8% and heavy down 23% in the quarter, CNH notes

Commenting on CNH Capital, CNH’s North American financial services subsidiary, the company said net income was up 11% primarily due to a higher average portfolio, stronger financial margins and a lower provision for income taxes, partially offset by a higher provision for credit losses. CNH Capital’s managed assets of $12.2 billion were up 12% from $10.9 billion at the end of Q1/12. The company also noted that at quarter end, delinquent receivables greater than 30-days past due were 0.4% of total managed receivables, down from 0.5% and 0.9% at YE 2012 and Q1/13, respectively.

To read the CNH Global news release click here.