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Positive trends on horizon for ag equipment sales

AEM reports tractor sales up in January, but combine sales were lower.

January 2020 saw mixed results in overall U.S. sales of tractors and self-propelled combines. Total farm tractor sales grew compared to January of last year, while combines fell by a quarter, according to the latest data from the Association of Equipment Manufacturers (AEM).

“The sales numbers we are seeing for January 2020 are in line with our expectations,” said Curt Blades, senior vice president of Ag Services at the Association of Equipment Manufacturers. “With the approval of the [U.S.-Mexico-Canada Agreement] and the announcement of the phase one trade agreement between the U.S. and China, we believe we are seeing some positive trends on the horizon for ag equipment sales.”

Total U.S. farm tractor sales increased 4.7% in January compared to last year, while self-propelled combine sales fell 24.4%.

Total U.S. sales of two-wheel-drive tractors grew in all segments in January by 4.9% versus January 2019: Sales of under-40 hp two-wheel-drive tractors were up 2.6%, and sales of 40-100 hp tractors went up 4.6%, while sales of 100 hp-plus tractors led the way with 19.6% growth to 1,361 units. Total U.S. four-wheel drive tractor sales fell 6.6% to 169 units sold.

For Canada, four-wheel-drive tractor sales fell 84.1% (from 69 to 11 units sold year over year), and self-propelled combine sales notched down 22%. Two-wheel-drive tractor sales in Canada were down 2.8% overall, with the sub-40 hp segment growing 11.9% while the 40-100 hp segment fell 18.2% and the 100 hp-plus segment fell 28.6%.

TAGS: Business
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