FEBRUARY U.S. AG EQUIPMENT SALES REMAIN POSITIVE OVERALL, SAYS AEM REPORT
U.S. sales of ag tractors and combines remained in the plus column for February, according to the latest sales data from the Association of Equipment Manufacturers (AEM).
Total U.S. February 2-wheel-drive tractor sales grew 17.3 percent compared to February 2018, led by under-40-HP machines with a 24.6-percent gain and a 7.1-percent gain for 40-100-HP 2-wheel-drive tractors, while 100-plus-HP 2-wheel-drive-tractors recorded a drop of 2.2 percent.
February U.S. sales of 4-wheel-drive tractors gained 29.5 percent compared to last year and U.S. self-propelled combine sales for February grew 21.5 percent.
Canada did not fare as well, with February gains only for self-propelled combines (up 25 percent) and for under-40-HP 2-wheel-drive tractors (up 23 percent).
“We’re encouraged to hear USDA estimates that net farm income is expected to increase slightly in 2019 after last year’s declines; hopefully that signifies some optimism in the U.S. as the year moves forward. And we remain concerned about some of the Canadian numbers in February’s report,” said Curt Blades, AEM senior vice president, AG services.
“We hope that the new U.S. farm bill will provide more certainty for farmers as they plan ahead. However, we are still facing a lack of real, sustained progress on trade agreements and ending retaliatory tariffs.”
AEM is the North American-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 supports 1.3 million jobs in the U.S., and 149,000 more in Canada. Equipment manufacturers also contribute $188 billion combined to the U.S. and Canadian economies. AEM is celebrating its 125th anniversary in 2019.
Learn more about AEM at www.aem.org.