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Tractor sales up nearly 33% versus last June

TAGS: Business
fotokostic/iStock/Thinkstock. tractor plowing field farming
Industry cautiously optimistic that trend will continue, depending on how economy fares going forward.

Overall unit sales of agricultural tractors and self-propelled combines in June 2020 rose in the U.S. and, for the first time this year, grew in Canada as well, according to the latest data from the Association of Equipment Manufacturers (AEM).

Total U.S. farm tractor sales rose 32.7% in June compared to 2019, while self-propelled combine sales grew 36.6%. Only four-wheel-drive tractors declined in unit sales in the U.S. in June. Total year-to-date sales of all farm tractor are up 10.5% in 2020, while combines cut year-to-date losses to only 1.7% in the same period.

For Canada, June tractor sales grew across almost all segments, leading to an overall gain of 32.5%, with 100 hp-plus tractors the only segment in the red, falling 20.2% to 202 units sold. That put year-to-date unit sales for farm tractors statistically flat with 2019, while combines are down 30.8% for the year despite 14.4% growth in the month of June.

“We’re seeing more areas of the economy open up from the previous pandemic-related shutdowns, so we’re not entirely surprised some of that pent-up demand is expressing itself right now,” said Curt Blades, AEM senior vice president of Ag Services. “However, we’re currently keeping our optimism cautious, as the current state of things with COVID-19 could see a negative impact on demand moving forward. Right now, there is too much uncertainty in COVID-19-related events -- and their impact on ag markets -- to determine whether or not this trend will continue.”

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