Canadian combine and 4WD tractors show huge gains for September, according to data compiled by the Association of Equipment Manufacturers.
By Andrew Joseph; Image of Canadian equipment sales for September 2022 courtesy of the AEM (Association of Equipment Manufacturers)
For all those who are the type to bet, one would bet that sales for combines would be up in the US and Canada—and they would be correct.
In fact, Canadian sales for the bigger-ticketed items—100+ HP tractors, 40 < 100 HP tractors, 4WD tractors, and self-prop combines were up by large amounts for September 2022 compared against 2021 numbers. In the US, combines and the 100+ HP 2WD tractors and the combines were the only two segments to show gains, but only modest gains when compared to Canada—perhaps a nod to the earlier harvest season the Great White North Experiences.
Data below is courtesy of the AEM (Association of Equipment Manufacturers).
For the 2WD farm segment, the smaller <40 HP tractors had September 2022 sales of 1,508 units in September of 2022, down 13.1 percent when compared to September 2021 where 1,735 sales were realized. For reference, there were 1,498 units sold in August of 2022, and 1,730 sold in July of 2022.
For those tractors at 40 < 100 HP, sales were up by 12.5 percent, with a sterling 629 units sold in September of 2022, against 559 tractors sold in September of 2021. Again, for comparison, 428 units sold in August of 2022, and 534 units sold in July of 2022.
Tractor sales of the 100+ HP 2WD tractor segment, were up by 41.1 percent, with 398 units sold in September of 2022 against just 282 units sold in September of 2021. Compare that against the 249 units sold in August of 2022 and the 317 units sold in July of 2022.
The total number of 2WD farm tractors sold in September of 2022, however, was down by 1.6 percent when comparing September 2022 data against 2021. There was a total of 2,535 2WD farm tractors sold in September of 2022, but 2,576 units sold in September of 2021. Compare the numbers against July 2022 with 2,175 2022 units sold, and 2,581 units sold in July of 2022.
For 4WD farm tractors, a huge gain was seen in September of 2022—a leap of 64.3 percent with 46 sales, compared to just 28 in September of 2021. There were, however, 64 units sold in August 2022 and 78 such units sold in July of 2022.
Total farm tractor sales (all 2WD + 4WD) are down by 0.9 percent, with 2,581 units sold in September of 2022 compared against 2,604 units sold in September of 2021. Yes… overall sales are down, but there were more larger vehicles sold in September of 2022.
And what of combines? How about a jump of 105.6 percent?! September 2022 saw 292 units sold against 142 combines sold in September of 2021. There were 221 units sold in August of 2022, and 241 units sold in July of 2022.
Looking at the year-to-date data, overall all segments of tractors and combines are still in the negative—but again (like last month’s report) with one segment in the positive.
For 2WD < 40HP farm tractors, year-to-date numbers in 2022 show a total of 14,770 units sold, compared to 2021’s 16,217 units sold, showing a decrease of 8.9 percent.
For the 40 < 100 HP farm tractors, there have been 4,475 units sold as of September 2022, a decrease of 1.7 percent when compared to the year-to-date of 4,552 units sold as of September 2021.
In the 100+ HP segment, well, we’re movin’ on up! There was an increase of just 0.8 percent for year-to-date data as of August 2022, but it has improved to 5.2 percent as of September 2022 with 2,702 units sold. There were only 2,568 units sold as of September of 2021.
However, the total 2WD farm tractor segment is down by 6.0 percent with 21,947 units sold as of September 2022, compared to 23,337 units sold as of September 2021. But there is improvement. The year to date improved by 0.5 percent from the August numbers.
The 4WD farm tractor market remained down by 8.8 percent, despite the excellent monthly gain. The September 2022 year-to-date sales showed 537 units sold, compared to 589 units sold as of September 2021.
The total farm tractor market is showing a decrease in sales of 6.0 percent (continuing to show promise, as it was a decrease of 6.7 percent as of August 2022, and a decrease of 8.3 percent as of July 2022). There was a total of 22,484 farm tractors sold year-to-date September 2022, compared to 23,926 units sold as of September 2021.
For combines, the year to date data as of September 2022 is down by only 0.1 percent compared against 202. There were 1,241 units sold as of September 2022 – one combine fewer than in 2021 when 1,242 were sold. Bets that we’ll see overall positive growth for next month?
Looking at total farm tractors (2WD + 4WD) in the US for September of 2022, the market is sunk to a decrease of 12.8 percent. It was only down by 11.7 percent in August of 2021.
But it’s not all bad news, as the largest of the big ticket items had positive results in September of 2022.
For the < 40 HP farm tractor segment, September 2022 sales were down by 16.3 percent, with only 13,687 units sold against the 16,360 sold in September of 2021. There were 13,880 sales in August of 2022.
Looking at the year-to-date data, as of September 2022, there have been 140,790 units sold against 170,715 units sold per 2021—a decline of 17.5 percent.
In the 40 < 100 HP farm tractor segment, the September 2022 numbers show a drop of 12.4 percent, with 49,468 units sold as of September 2022, with 56,445 sold as of September 2021.
For the 100+ HP market, we finally see the good news mentioned earlier—it’s up by 11.6 percent as of September 2022 with 18,146 units sold, against 16,257 units sold as of September 2021. It’s an improvement year-to-date by 0.1 percent over last month.
However, despite the great showing of the 100+ HP tractor segment, overall the 2WD farm tractor market was down.
There were 21,833 units sold in September of 2022, down by 12.5 percent compared to September of 2021 when 24,946 2WD farm tractors were sold.
Year-to-date, for September 2022, there were a total of 208,404 2WD tractors sold, down by 14.4 percent compared to the year-to-date of September 2021 when 243,417 units were sold.
The 4WD farm tractor market remained depressed for August of 2022, with 247 units sold, a decline of 33.1 percent when compared against September of 2021 when 369 units were sold. It’s down from August 2022’s sales of 257 for the month, and 290 units sold in July.
The year-to-date data for the 4WD market remains down by 10.6 percent. There were 2,136 units sold as of September 2022, compared to 2021 when 2,390 were sold.
For the total farm tractor segment, September sales are down. There were 22,080 units sold in September of 2022, but 25,315 sold in September of 2021—a drop of 12.8 percent.
The year-to-date data also shows only 210,540 farm tractors sold as of September 2022. There were 245,807 units sold as of September 2021—a drop if 14.3 percent.
For the combines, there’s some good news.
For September 2022, there were 904 units sold, compared against just 848 units sold in September of 2021. Compare that to August 2022 which saw 790 units sold.
For the year-to-date, self-prop combine sales are up by 3.4 percent in 2022 against 2021. As of September 2022, there have been 4,555 combines sold in the US, against year-to-date September that saw 4,406 units sold.
The AEM is the leading organization in North America advancing construction and agriculture equipment manufacturers and their value chain partners in the global marketplace. More information is available at https://www.aem.org.