Strength in Combine, 4WD Tractor Unit Sales Continues in May
Four-Wheel-Drive Tractors and Combine Harvesters continue growth while some other segments continue declines according to the latest data from the Association of Equipment Manufacturers (AEM).
Overall U.S. ag tractor unit sales gained in all but one segment. U.S. self-propelled combine sales grew the most, up 54.6 percent, with 4WD tractors (up 51.1 percent) and 100+hp 2WD units (up 9.8 percent). However, a 2.7 percent decline in the sub-40 hp segment resulted in a 0.7 percent reduction in total farm tractors. Total farm tractor sales in the U.S. for the year are down 12.2 percent versus 2022, while combines are up 68.3 percent.
In Canada, combine harvesters were the biggest growth spot as well, up 68.3 percent for the month, and 107.7 percent for the year. Total unit sales in tractors finished the month down 11.3 percent due to losses in the sub-40 hp and 40-100hp segments, down 14.7 and 13.1 percent respectively. All other tractor segments were positive for the month, with 4WD units leading the way again with 26.6 percent growth. Year to date, tractors in Canada are down 14.1 percent.
“The trends seen here are still being informed by the pandemic-driven highs in past years, especially in the sub-40 horsepower segment that, this month, makes up nearly seventy percent of total unit sales volume in ag tractors,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “The continued growth in bigger units and harvesters indicate two trends. First, farmers see enough improvement in the technology to make a clear business case for this investment, and second, they feel confident that positive commodity prices will continue, allowing them to afford the expense.”
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.