Tue, 13 Sep 2022 09:14:16 CDT
Combine harvester sales grew for August in both the U.S. and Canada, while total tractors fell in the U.S., but grew in Canada according to the latest data from the Association of Equipment Manufacturers (AEM).
Total U.S. ag equipment unit sales rose above the 5-year average for the first time since April 2022. U.S. total farm tractor sales fell 11.7 percent for the month of August compared to 2021, while U.S. self-propelled combine sales for the month grew 25.8 percent to 790 units sold, making for a three-month growth streak for that segment. The 100+ horsepower 2WD tractor segment was the only positive segment in the U.S., up 11.5 percent. Mid-range tractors between 40 and 100 horsepower were down 7.2 percent, and the sub-40hp segment led segment losses again, down 16 percent. Total farm tractor sales are down 14.8 percent year-to-date, while combine harvester unit sales are now positive year-to-date, with sales now up 2.7 percent overall.
In Canada, growth in all segments led Canadian unit sales to its first positive year-over-year month in unit sales since January 2022. Overall unit sales in tractors were up 7.2 percent, gaining in all segments, most notably 4WD units, up 326.7 percent year-over-year to 64 tractors sold. Unit sales in 2WD segments gained 4.9 percent, led by 100+hp unit growth of 43.9 percent. Combine harvester unit sales grew 33.1 percent to 221 units sold. Year-to-date farm tractor unit sales are down 6.7 percent in Canada, while harvesters cut their losses down to 13.7 percent.
“Demand for everything other than the smallest units remains positive, but supply chain difficulties remain in the way of the supply side of the market,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “Despite concerns around input costs for farmers, we are still seeing the larger units, harvesters and heavy-duty tractors, lead sales trends, indicating positive outlooks, especially among row crop farmers.”
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.
For U.S. ag tractor and combine reports, click here.
For Canadian ag tractor and combine reports, click here.