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Ag equipment sales see growth in 2018

TAGS: Business
steverts/iStock/Thinkstock corn harvest
Year-to-date sales of self-propelled combines showed 18.2% growth.

The Association of Equipment Manufacturers' (AEM) December “U.S. Ag Tractor & Combine Report” showed that all machine categories recorded year-to-date growth as 2018 closed out.

U.S. year-to-date sales for December showed 18.2% growth for self-propelled combines and 12.9% for four-wheel-drive tractors.

U.S. sales of self-propelled combines gained 29.7% month over month in December compared to last year, while U.S. sales of four-wheel-drive tractors declined 9.2% month over month.

Overall U.S. sales for December year to date grew 6.8% for two-wheel-drive tractors, grew 9.2% for under-40 hp tractors, increased 1.5% for 40-100 hp tractors and grew 5.5% for 100-plus hp tractors.

For December, total month-over-month U.S. sales grew 5.7% compared to last year for two-wheel-drive tractors, grew 7% for under-40 hp tractors, gained 3.6% for 40-100 hp tractors and grew 5.9% gain for 100-plus hp tractors.

Curt Blades, AEM senior vice president, agriculture, said 2018 was a solid year for equipment sales despite a weak overall farm economy and lingering trade issues.

“As we look at 2019, we’re still seeing a lot of uncertainty related to the Administration’s efforts to reset global trade parameters. We’re also watching some uncertainty with stock market ups and downs, which could indicate a potential slowing economy. As a whole, we remain optimistic that the replacement market for large equipment will continue through 2019 and that the small tractor market will continue to be a bright spot on overall sales numbers.”

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