2023 Tractor and Harvester Sales Report: A Mixed Year of Growth and Declines According to AEM

The latest report from the Association of Equipment Manufacturers (AEM) indicates a mixed performance in tractor and combine harvester sales for 2023. In the United States, the overall sales of farm tractors declined by 5.1% in December and 8.7% year-to-date compared to 2022.

Notably, tractors with over 100 horsepower saw an increase of 5.2% annually and 3.6% in December. Combine harvesters ended the year positively, with a 1.7% rise in sales in December. The smallest tractor segment, under 40 horsepower, experienced the most significant drop, with a 10.7% decrease over the year, following a 5.8% decline in December.

Image Courtesy of AEM

For Canada, 4WD farm tractor sales jumped 64.9 percent in December and finished the year up 44.4 percent overall. Overall unit tractor sales finished 2023 down 14 percent for the month of December and 10.7 percent overall. All tractor segments other than 4WD units experienced double-digit declines in December, but combine harvesters did close out the year with YTD gains of 5.5 percent.

AEM’s Senior Vice President, Curt Blades, expressed optimism about the growth in U.S. sales of combine harvesters and tractors: “

“Seeing year-over-year gains in U.S. sales of both combine harvesters and 100+hp tractors is a welcome sight as 2024 gets underway. And while several tractor segments fell last month versus 2023, we’re still confident in the strength of the equipment market and remain optimistic about its long-term growth.”

Source: AEM