AEM Reports Sharp Climb in US Tractor Sales During Januay Despite Weak Overall Farm EconomyTue, 12 Feb 2019 12:18:33 CST
January 2019 saw increases in U.S. sales of self-propelled combines and 4-wheel-drive tractors as well as total U.S. 2-wheel-drive tractor sales compared to January last year, according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. 4-wheel-drive tractor sales gained 38.2 percent in January compared to last year and U.S. January self-propelled combine sales grew 14.5 percent.
Total U.S. sales of 2-wheel drive tractors in January gained 4.9 percent compared to January last year: under 40 HP 2-wheel drive tractors gained 13.3 percent, while sales of 40-100 HP tractors declined 6.8 percent, and sales of 100-plus HP tractors declined 3.5 percent.
For Canada, January 4-wheel drive tractor sales were positive (up 7.8 percent) and self-propelled combine sales increased 31.1 percent. However, January 2-wheel-drive tractor Canadian sales were down in all size categories ( 14.6 percent for under 40 HP, 26.0 percent for 40-100 HP, and 24.1 percent for 100-plus HP).
“For U.S. sales, our January numbers appear to be following a similar pattern as year-end, with continued overall positive data despite a weak overall farm economy. For Canada, one month doesn’t make a trend, but it is notable to watch. We are still concerned about continued market uncertainty and its effect on farmers’ business planning,” said Curt Blades, AEM senior vice president, AG services.
“We remain committed to advocating for pro-growth trade policies and the end to retaliatory tariffs. To keep the U.S. agriculture economy strong, we’re also urging for the swift implementation of the 2018 Farm Bill, expansion of rural broadband coverage, and year-round sales of E-15 under the Renewable Fuel Standard to help provide some stability for farmers in the months ahead,” said Blades.
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.
Source - Association of Equipment Manufacturers
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