Tractor, combine sales down for the first time in 8 months
According to recent data from the Association of Equipment Manufacturers (AEM), ag tractor and combine sales declined for the first time since July 2021.
Total farm tractor sales in the U.S. fell 21.1% in March compared with a year ago. Sales for self-propelled combines also dipped 10.2%, with 343 machines sold. One area that saw growth was the 100+ hp. 2WD segment, which was up 7%.
The sub-40 hp. segment saw the biggest losses, down 25.5%. Mid-range tractors between 40 and 100 hp. fell 14.1%.
4WD tractors remained nearly flat for the second straight month, dropping 2%, with four fewer units sold in March.
Year-to-date, total farm tractor sales were down 7.9%, while combines were down 19.2%.
Canada saw a drop across all segments, with a 5.1% decline in total farm tractor sales. Down 43.3%, the 4WD machines saw the biggest loss. Sales for 2WD machines were down in every segment by 3.7% overall.
The number of combines sold was also down, falling 36.8% (60 units sold).
Year-to-date farm tractor unit sales are down 0.7%, while combines were down 36.2%.
Curt Blades, AEM’s senior vice president, industry sectors & product leadership, says the sales report was not a surprise. “Inventory levels are down more than 10% in both the U.S. and Canada, and this is the result of supply chain difficulties catching up with this segment of the manufacturing industry.”