AEM (Association of Equipment Manifacturers) released its monthly U.S. and Canadian Ag Tractor and Combine Reports last week, and there were some notable takeaways from the latest sales data.
While March saw mostly positive numbers in terms of U.S. sales of ag tractors and combines, total retail sales in Canada did not fare nearly as well.
“We saw positive and negatives to March’s sales numbers of Ag tractors and combines,” said Curt Blades, AEM senior vice president of ag services. “While U.S. total tractor sales were down 0.2 percent, trade uncertainties and implementation of the farm bill continue to weigh heavy on the minds of our members and their customers. We also remain concerned about Canada’s continued problematic sales numbers.”
With that in mind, here are four key takeways from the last week’s reports:
- Total 2-wheel-drive tractor sales for the U.S. in March experienced a 0.3 percent drop compared to March of 2018. However, under-40-HP tractors and 100-plus-HP both saw growth since March 2018 with a 0.2 percent and 4.8 percent change, respectively.
- These increased sales were overshadowed by the 3.3 percent drop that 40-100-HP 2-wheel-drive tractors recorded, though, resulting in the 0.3 percent overall drop in total 2-wheel-drive tractor sales from 2018 to 2019.
- Total sales for 4-wheel-drive tractors for the U.S. in March experienced a 13.4 percent growth from 2018, and self-propelled combine sales experienced a massive spike of 71.3 percent in sales.
- Canada saw growth in only under-40-hp tractors (13.1 percent growth), 40-100-hp tractors (3.5 percent growth) and total 2-wheel-drive tractors (0.8 percent growth).