June Farm Tractor Sales Mark First Year-Over-Year Gain for 2023 in U.S.
Total farm tractor unit sales in the U.S. turned positive for the first time in 2023, led by continued strength in large tractors and combines according to the latest data from the Association of Equipment Manufacturers (AEM).
Gains in the U.S. market were led by 100+hp 2WD units, up 25.4 percent, closely followed by 4WD units up 21.9 percent. However, a change from the previous month is a small gain in the sub-40hp 2WD segment, up 0.2 percent, that took overall sales positive since they represent more than 66 percent of total unit sales volume for the month. U.S. self-propelled combines also marked another large gain of 9.8 percent. At the mid-year mark, year-to-date unit sales of farm tractors are down 9.7 percent despite a gain of 45.5 percent in the 4WD segment over that same period, and combines are up 51.5 percent.
In Canada, combine harvesters were one of only two segments to report positive results, up 27.5 percent for the month, joined by 100+hp 2WD tractors up 15.7 percent. Total unit sales in tractors finished the month down 15.4 percent due to losses in all other segments, including 4WD units which had been a point of strength all year, but are down 18.5 percent this month. With half of the year done, total farm tractor unit sales year-to-date in Canada are down 14.4 percent, while combines are up 81.8 percent.
“Year-over-year sales comparisons this month are now starting to compare to 2022 sales that were closer to the 5-year average, and less informed by the aftereffects of the pandemic,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “At the same time, the continued strength in larger tractors and combines still owes some to the strength of commodities markets, and the appeal of more efficient technologies available on modern equipment.”
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 2.3 million jobs and contributes roughly $316 billion to the economy every year.