U.S. Ag Tractor, Combine Sales Fall Below Five-Year Average in May 2022
U.S. ag tractor and combine monthly unit sales in May 2022 fell below the five-year average for the first time since March 2020, while Canadian sales remained above the line, according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales fell 14.5 percent for the month of May compared to 2021, while U.S. self-propelled combine sales for the month declined 12.7 percent to 315 units sold. The 100+ horsepower 2WD segment was once again the only growth sector in the U.S. market for the third month in a row, up 13.9 percent, indicating continued demand in row-crop agriculture, while mid-range tractors between 40 and 100 horsepower fell 16.4 percent, and the sub-40hp segment were down 15.9 percent. 4WD tractors took a bigger drop than their 2WD cousins, down 30.4 percent. Total farm tractor sales and combine sales are both down 14.2 percent year-to-date.
In Canada, unit sales fell 11.3 percent, despite 2WD units in the 40-100hp and 100+hp ranges, and 4WD tractors growing, led by 100+hp units up 21.8 percent. Total 2WD unit sales were down 11.6 percent due to a fall in sub-40hp units. Combine harvesters were down as well in Canada, falling 28.4 percent to 78 units sold. Year-to-date farm tractor unit sales are down a 8.6 percent in Canada, while harvesters are down 28.1 percent.
“Supply chain remains the primary issue in the ag equipment market right now,” said Curt Blades, senior vice president, industry sectors & product leadership at the Association of Equipment Manufacturers. “Another thing to keep in mind, especially when comparing numbers year-over-year, is 2021 sales were significantly above historic trends.”
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.