Association of Equipment Manufacturers Report Positive Ag Tractor and Combine Sales in AugustWed, 12 Sep 2018 11:01:03 CDT
U.S. sales of tractors and combines remained positive in August, according to the latest report from the Association of Equipment Manufacturers (AEM).
U.S. sales of self-propelled combines gained 23 percent in August compared to last year, and U.S. sales of 4-wheel-drive tractors grew 17 percent month-over-month. Year-to-date growth in U.S. sales reached 24 percent for combines and 13 percent for 4-wheel-drive tractors.
Total August U.S. sales of 2-wheel-drive tractors grew 14 percent compared to last year with gains in all size categories: 19 percent for under-40 HP tractors, 3 percent for 40-100 HP tractors, and 27 percent for 100-plus HP tractors.
August year-to-date growth for total U.S. sales of 2-wheel-drive tractors topped 8 percent: under-40 HP tractors gained 10.5 percent; 40-100 HP tractors grew 2.5 percent; and 100-plus HP tractors increased 7 percent.
“While we’re pleased with these positive numbers, we still face concerns. For example, we have a potential rewrite of NAFTA added to steel and aluminum tariffs, and the USDA recently predicted a double-digit decline in net farm income,” said Curt Blades, AEM senior vice president, AG services. “We’re continuing to push for trade action that does not harm farmers or equipment manufacturers as well as a timely passage of a farm bill to help bring some certainty to the marketplace.”
Click here to view the full report online.
Source - AEM
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