April 18, 2024

Gains in large tractor sales highlight of AEM February tractor and combine sales data

The trade war hit U.S. agricultural exports to China, leaving farmers struggling to turn a profit and hurting purchases of new farm machinery.

MILWAUKEE — February saw mixed results in overall U.S. sales of tractors and self-propelled combines. The bright spot was four-wheel-drive and 100-plus horsepower tractors which showed healthy gains year over year.

However, overall tractor and combine sales fell for February, according to the latest data from the Association of Equipment Manufacturers.

U.S. total farm tractor sales decreased 7.5% in February compared to last year, while U.S. February self-propelled combine sales fell 21.1%.

However, within those numbers, AEM saw a 6.2% gain in tractors above 100 horsepower to 946 units and a 7.3% rise in four-wheel-drive units to 177 sold.

Total U.S. sales of two-wheel-drive tractors fell in February a total of 7.5% year over year. Sales of under-40 horsepower two-wheel-drive tractors were down 9.7%, and sales of 40 to 100 horsepower tractors went down 5.6%.

For Canada, November four-wheel-drive tractor sales gained 43.5%, from 23 to 33 units sold year-over-year, and self-propelled combine sales fell 46.3%.

November two-wheel-drive tractor Canadian sales were down overall 18.7%, with the sub-40 horsepower segment falling 20.2% while the 40 to 100 horsepower segment fell 10.3% and the 100-plus horsepower segment fell 29.4%.

“What we’re seeing in tractor and combine unit sales is in line with expectations,” said Curt Blades, AEM senior vice president of ag services. “A lot of uncertainty in overall global markets is being reflected in agricultural goods markets, and that ultimately gets reflected in the capital expenditure decisions, like major equipment purchases, that farmers make.”