April 2021 Farm Tractor Sales Grow Over Already-Large 2020 Gains
U.S. farm tractor unit sales continue double-digit growth rate in both U.S. and Canada, and inventories continue to fall, after a strong month of April according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales rose 22.7 percent in April compared to 2020, which was the first month of the current sales growth trend, while U.S. self-propelled combine sales fell 3.2 percent. U.S. tractor sales grew across every segment, with the biggest gains in the 100+hp segment, up 29.2 percent. The midsize 40-100hp units were up 28.8 percent, and the sub-40hp class is up 20.8 percent. Four-wheel-drive units grew 15.1 percent, putting them up 12 percent year-to-date.
For Canada, April monthly tractor and combine sales were positive across all segments, with the 4WD segment nearly doubling, up 93.3 percent to 201 units sold, while total farm tractor sales were up 72.3 percent to 3,671 units sold. Self-propelled combines also grew 23.1 percent.
“April was the month we were watching to see how this growth trend would look once it hit the official twelve-month mark,” said Curt Blades, Senior Vice President of Ag Services at the Association of Equipment Manufacturers. “Seeing the larger row-crop units leading the way in segment gains shows the pull rising commodity prices have been having on equipment sales.”
AEM recently delved into the 'why' behind the strong equipment sales in a video that was shared earlier this month.
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.
AEM is the North America-based international trade group representing off-road equipment manufacturers and suppliers with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry in the United States supports 2.8 million jobs and contributes roughly $288 billion to the economy every year.