Overall Farm Tractor Unit Sales Remain Positive in U.S., Canada
Overall farm tractor unit sales continue their growth across North America in October 2020 despite a small pause in larger units in Canada according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales rose 18.1 percent in October compared to 2019 while U.S. self-propelled combine sales grew 14.8 percent. U.S. four-wheel-drive units grew for the third month in a row in October, up 22.8 percent to 635 units, putting year-to-date segment sales in the black for the first time this year, now up 1 percent. 100+hp also grew in October, up 9.7 percent, finally bringing big units barely into positive territory, now up 0.2 percent YTD. Total YTD farm tractors out the door are up 15.1 percent in 2020, while combines are now up 5.5 percent on the year.
For Canada, October tractor sales saw major growth in the sub-40hp range, carrying overall tractor sales to a 12.8 percent growth for the month and 9.6 percent YTD, while 40-100hp and 100+hp units had small declines of 1 percent and 3.3 percent respectively. Four-wheel-drive units stayed flat for the month. Self-propelled combines grew 3.1 percent for the month, while YTD unit sales remain 7 percent behind their 2019 pace.
“We’re glad to see aggregate North American tractor and combine sales stay above the 5-year trend line,” said Curt Blades, Senior Vice President of Ag Services at the Association of Equipment Manufacturers. “These latest numbers, combined with the recent bump in commodity prices, point to the potential for a strong finish to equipment sales for 2020.”
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.