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Deere Slips As Biden Says Farmers Have ‘Right to Repair’ Tractor Software

imageStock Markets15 minutes ago (Jul 06, 2021 10:36AM ET)

(C) Reuters.

By Dhirendra Tripathi

Investing.com – Deere & Company (NYSE:DE) fell Tuesday after a report that President Joe Biden wants the Federal Trade Commission to limit the ability of farm equipment manufacturers to restrict tractor owners from using independent repair shops or complete some repairs on their own.

Biden’s planned executive order on competition will encourage the FTC to address the issue, a Reuters (TSX:TRI) report said.

Some tractor manufacturers like Deere use their own repair tools and software, and that prevents outsiders from being able to make some repairs.

For many manufacturing companies, tying users to their repair services is a large and constant revenue stream, often carrying high margins.

Deere Slips As Biden Says Farmers Have ‘Right to Repair’ Tractor Software

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