According to the latest data from the Association of Equipment Manufacturers (AEM), 4WD tractors and combine harvesters saw continued growth in North America while some other segments continue to decline.
Overall U.S. ag tractor unit sales gained in all but one segment. U.S. self-propelled combine sales grew the most, up 54.6%, with 4WD tractors growing 51.1% and 2WD units 100 hp and above increasing 9.8 %. However, a 2.7% decline in the sub-40 hp segment resulted in a 0.7% reduction in total farm tractors. Total farm tractor sales in the U.S. are down 12.2% in 2023 compared to last year, while combines are up 68.3%.
In Canada, combine harvesters were the biggest growth spot, as well. They gained 68.3% for the month, and 107.7% for the year. Total unit sales in tractors finished the month down 11.3% due to losses in the sub-40 hp and 40-100 hp segments, which were down 14.7% and 13.1% respectively. All other tractor segments were positive for the month, with 4WD units leading the way again with 26.6% growth. Year to date, tractors in Canada are down 14.1%.
“The trends seen here are still being informed by the pandemic-driven highs in past years, especially in the sub-40 hp segment that this month makes up nearly 70% of total unit sales volume in ag tractors,” said Curt Blades, senior vice president, industry sectors and product leadership for AEM. “The continued growth in bigger units and harvesters indicates two trends. First, farmers see enough improvement in the technology to make a clear business case for this investment, and second, they feel confident that positive commodity prices will continue, allowing them to afford the expense.”
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.
Source : Farm Equipment