Tractor and combine sales fall again

Dec 12, 2024
By Farms.com

November 2024 tractor sales decline in US

The agricultural equipment market in North America continues to face challenges, as new data from the Association of Equipment Manufacturers (AEM) reveals declining sales in November 2024.

In the United States, tractor sales dropped by 14.5% across all categories compared to November 2023, while combines have recorded a year-to-date decline of 24%. Canada experienced even sharper declines, with tractor sales down 18.8% and combine sales falling by 39.4% in the same period.

“November’s sales of Ag tractors and combines follow the same pattern of the last few months—softness in the market,” said Curt Blades, Senior Vice President at AEM. He pointed to high interest rates and overall economic uncertainty as key factors behind the declining sales figures.

“The market continues to face uncertainty related to global trade, biofuels demand and the delays in passing an updated Farm Bill, creating significant challenges for farmers and the agricultural equipment industry. We remain optimistic that these declines are cyclical and that the long-term outlook for equipment and agriculture remain positive."

These trends highlight the financial and operational pressures farmers face, impacting their ability to invest in new equipment. Despite these challenges, market observers are hopeful that stabilizing interest rates could offer some relief in the coming months.

For further insights into tractor and combine sales data, the AEM provides detailed reports on its Market Share Statistics page. These resources can assist industry professionals in analyzing trends and making informed decisions.

As the agricultural economy navigates these hurdles, monitoring market changes and adapting to the needs of farmers remain essential for supporting the sector’s growth. To access the latest reports, visit the AEM Market Share Statistics page.

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