Despite Ag Market Uncertainty, July Ag Equipment Sales Numbers Extend Growth Streak
Overall unit sales of agricultural tractors and self-propelled combines in July 2020 were positive for the fourth month in a row in the U.S., and remained positive for the second consecutive month in Canada according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales rose 34.1 percent in July compared to 2019 while U.S. June self-propelled combine sales grew 33.6 percent. Four-wheel-drive tractors continued their decline in unit sales in the U.S. in July, falling 21.2 percent in July and 12.8 percent year-to-date. Total YTD sales of all farm tractor are up 14 percent in 2020, while combines broke into positive territory for the first time in 2020, now up 4.1 percent in the same period.
For Canada, July tractor sales grew across every segment, leading to an overall gain of tractor sales of 33 percent. That puts YTD unit sales for farm tractors up 4.8 percent, while combines monthly sales growth of more than 41 percent cut total YTD losses nearly in half to 16.8 percent.
“We’re continuing to see demand in the small, medium, and harvesting sectors,” said Curt Blades, senior vice president of Ag Services at the Association of Equipment Manufacturers. “The continuously-developing nature of the COVID-19 situation, and its effect on the agricultural sector, is keeping our optimism cautious. Growth in the U.S. market has outpaced the five-year average each month, so we’re hoping that continues.”
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.
AEM continues to lead the industry’s response to the COVID-19 pandemic, and is working closely with state and federal officials to help keep equipment manufacturing in America strong and ensure the nation’s economic resilience. AEM has also called for bold action from Congress and federal agencies, including continued federal designation deeming equipment manufacturers and their employees, suppliers, and distributors as “essential” and additional support to ensure small and medium-sized equipment manufacturers have access to the cash they need to keep operations going.