March Farm Tractor Sales Show Broad Growth, Close Positive First Quarter
U.S. farm tractor unit sales extend their growth streak to eleven straight months, while Canada also extends its own streak with a strong month of March according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales rose 81.4 percent in March compared to 2020 while U.S. self-propelled combine sales grew 6.7 percent. U.S. unit sales grew across every segment, with the biggest gains in the small sub-40hp segment (nearly doubling, growing 96.5 percent). The 100+hp row-crop units had were up 33.7 percent. Four-wheel-drive units grew as well, up 2.5 percent for the month, reversing February’s small decrease.
For Canada, March monthly tractor and combine sales were positive across all segments, with the sub-40hp segment more than doubling, up 135.5 percent to 1,545 units sold, 40-100hp units and 4WD units were both up more than forty percent. Total farm tractor sales were up 80.8 percent for March 2021 while combines were flat at 95 units sold.
“It’s not just the length of time of this growth streak, but the size of growth that makes me feel optimistic this will continue past the 12-month mark,” said Curt Blades, Senior Vice President of Ag Services at the Association of Equipment Manufacturers. “The strength of ag tractor and combine sales this month, driven largely by small tractors, but showing strength across all size classes, reinforces the optimistic findings of a survey we shared earlier this year. That survey found increased customer demand has manufacturers optimistic sales will increase or remain stable, despite COVID-19 and workforce challenges in 2021.”
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.