Combine Harvesters See Solid Sales Gains to Close Out 2023, While U.S. Tractor Sales Fall
Combine harvester sales closed out the year ahead of 2022 levels, while almost all tractor segments saw declines in both the United States and Canada, according to the latest data from the Association of Equipment Manufacturers (AEM).
Total U.S. farm tractor sales fell 5.1 percent in December compared to 2022, while year-to-date sales came in 8.7 percent lower than a year ago. However, 100+hp tractors grew 5.2 percent for the year and 3.6 percent in December, while combine harvesters finished 2023 with sales up 1.7 percent last month. The sub-40hp segment led losses for the year as a whole, falling 10.7 percent for calendar 2023 on the heels of a 5.8 percent drop in December.
For Canada, 4WD farm tractor sales jumped 64.9 percent in December and finished the year up 44.4 percent overall. Overall unit tractor sales finished 2023 down 14 percent for the month of December and 10.7 percent overall. All tractor segments other than 4WD units experienced double-digit declines in December, but combine harvesters did close out the year with YTD gains of 5.5 percent.
“Seeing year-over-year gains in U.S. sales of both combine harvesters and 100+hp tractors is a welcome sight as 2024 gets underway,” said AEM Senior Vice President Curt Blades. “And while several tractor segments fell last month versus 2023, we’re still confident in the strength of the equipment market and remain optimistic about its long-term growth.”
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports or downloaded below.
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 2.3 million jobs and contributes roughly $316 billion to the economy every year.