U.S. COMBINE SALES STILL STRONG, 2WD TRACTORS REBOUND: AEM MAY REPORT
U.S. sales of self-propelled combines remained strong in May, with a 52-percent gain compared to May 2017 and year-to-date growth of 26.5 percent, according to the latest data from the Association of Equipment Manufacturers (AEM).
Total U.S. sales of 2-wheel drive tractors for May gained 17 percent compared to May 2017, bolstered by gains of 20 percent in both the 100-plus HP and under-40 HP categories. Total May year-to-date sales for 2WD tractors gained 5 percent compared to last year: 100-plus HP tractors flat at minus-1 percent, with 6-percent gains for under-40 HP and 3-percent growth for 40-100 HP size tractors.
May U.S. sales of 4-wheel-drive tractors faltered with a 6-percent decline compared to last year, resulting in May YTD growth of 2 percent compared to last year.
“There is an overall positive sentiment in the market supported by increasing consumer confidence and buoyant economy. We at Mahindra follow the industry growth and ride the wave with new products, new dealers and a passionate and energized work force. We expect 2018 to be a good year for tractor manufacturers,” said Mani Iyer, president, Mahindra USA.
“We are still looking at overall positive growth in equipment sales for 2018. We have seen more optimism from producers, and tax reform has been a plus. The continued specter of trade retaliation or a trade war over steel and aluminum tariffs, however, still poses a challenge for farmers and manufacturers,” said Curt Blades, senior vice president, AG services.
Here is link to the full report online: https://www.aem.org/AEM/media/docs/Statistics/18-05-USAG.pdf
AEM is the North American-based international trade group representing off-road equipment manufacturers and suppliers, with more than 950 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 1.3 million jobs and contributes roughly $159 billion to the economy every year.