MORE OF THE SAME FOR U.S. TRACTOR & COMBINE SALES: AEM REPORT
The latest U.S. Ag Tractor and Combine Report, with November numbers, from the Association of Equipment Manufacturers (AEM) shows little change in year-to-date growth from last month’s YTD totals, with under 40HP tractors the only category in positive territory. AEM is the leading trade group for off-road equipment manufacturers and suppliers.
November U.S. retail sales of farm tractors under 40HP were up 22.6 percent compared to last year, with year-to-date gains of 11.7 percent. U.S. retail sales for 2WD tractors of 40-100HP declined 5.0 percent in November and were down 4.2 percent year-to-date.
Sales of 2WD 100+HP tractors in the U.S. declined 27.1 percent for November year-over-year, with year-to-date sales down 22.7 percent, while 4WD tractors dropped 4.2 percent year-over-year and were down 23.3 percent year-to-date.
Combine sales declined 30.0 percent for November year-over-year with year-to-date sales down 25.7 percent.
“The smaller tractors under 40 HP are tracking well above their 5-year average, and while tractors 40-100HP have underperformed compared to the previous year, these still straddle their respective 5-year average, indicating continued demand for small and mid-size farm tractors,” said AEM Senior Vice President Charlie O’Brien.
“Less than 100HP demand is linked to the livestock segment, hobby farmers and housing. The relatively strong incomes in the livestock sub-segment that helped support the demand are expected to become subdued over the next year.
“The larger, production ag tractor sales (>100HP 2WD and 4WD) continue to show negative trends. With no improvement in crop receipts forecasted for 2016 compared to 2015, and subdued commodity prices, the USDA expects the current downturn to continue into 2017.”
About the Report/View the Full Report
Data from AEM’s Ag Tractor and Combine Report is provided monthly and is derived from AEM member companies through our proprietary statistical reporting programs. The analysis of the data is provided by AEM’s Market Intelligence department. Visit www.aem.org/agreports to view the reports, as well as reports from Russia and Canada.
About the Association of Equipment Manufacturers (AEM) - www.aem.org
AEM is the North American-based international trade group providing innovative business development resources to advance the off-road equipment manufacturing industry in the global marketplace. AEM membership comprises more than 900 companies, including 450 in the agriculture sector, and more than 200 product lines in the agriculture, construction, forestry, mining and utility sectors worldwide. AEM is headquartered in Milwaukee, Wisconsin, with offices in the world capitals of Washington, D.C.; Ottawa, Canada; and Beijing, China.