Combine Sales Growth Continues in February, While Ag Tractors Stay Near Five Year Average
20 March 2023 - Tractor unit sales in both the U.S. and Canada stay near their five-year average while combine harvesters in both countries continue triple-digit growth according to the latest data from the Association of Equipment Manufacturers (AEM).
Overall U.S. ag tractor unit sales fell for the month of February despite gains in the 100+ hp and 4WD segments, up 2.7 and 55 percent respectively. U.S. self-propelled combine sales, however, put up another strong month, rising 165 percent year-over-year. All other tractor segments fell, with the sub-40hp segment leading losses again for the month of February. Total farm tractor sales in the U.S. for the month fell 19.4 percent versus February 2022 and are down 17.2 percent year-to-date.
In Canada, combine harvesters were hot again, growing 246.7 percent in February. Overall unit sales in tractors finished the month down 8.1 percent due to losses in the sub-40 hp segment, down 24.4 percent. All other tractor segments were positive for the month, with 4WD units leading the way again with 81.8 percent growth. Year to date, tractors in Canada are down 0.5 percent, while combines are up 205.1 percent.
“With the technology in today’s equipment, especially in new harvesters, it’s no surprise to see that segment continuing to grow as farmers look to increase the yields they can get with these new units,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “On the tractor side, most of those losses are the result of overly hot sales of small units during the pandemic. With overall sales reverting to near their five-year average, this is more a return to normal than anything else.”
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.