Combine harvester sales report double-digit gains in October for both the U.S. and Canadian markets, while total tractors fell in both countries according to the latest data from AEM.
Total U.S. ag equipment unit sales stayed above the 5-year average for the third month since April 2022. U.S. total farm tractor sales fell 10.8 percent for the month of October compared to 2021, being dragged down by a 23.6 percent drop in the sub-40hp category. U.S. self-propelled combine sales for the month grew 77.4 percent to 1,678 units out the door. All ag tractor segments above 40hp grew as well, with mid-range 40-100hp 2WD units gaining 3.2 percent, 100+hp units up 25.5 percent, and 4WD units up 9.4 percent. Total farm tractor sales are down 14.0 percent year-to-date, a slight improvement from the month prior, while combine harvester unit sales growth streak, now at five months, have the segment up 16.2 percent year-to-date, a big, positive change.
In Canada, only two segments showed growth: 4WD tractors (up 19.2 percent) and combine harvesters (up 32.6 percent). Overall unit sales in tractors were down 9.6 percent, with the biggest drag coming from mid-range, 40-100hp units, down 12.9 percent. Unit sales in 2WD segments fell 10.1 percent overall with all segments falling. Year-to-date farm tractor unit sales were down 6.6 percent in Canada, while harvesters are finally positive for the year, now up 7.3 percent at 1,734 units sold.
“With all the new technology available, we’re happy to see farmers being able to take advantage of the technology on modern harvesters and tractors,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “The drop in the U.S. sub-40 horsepower segment continues the trend we’ve been expecting given the significant growth in that segment driven by consumer spending changes during the pandemic. Despite the year over year reduction in sales to days, the small tractor sales remain above 5-year average”
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.
U.S.: https://www.aem.org/market-data/statistics/us-ag-tractor-and-combine-reports/
Canada: https://www.aem.org/market-data/statistics/canadian-ag-tractor-combine-reports/
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