Tractor and combine sales remain ‘solid’ in the US, but Canada fares worse
September brought yet another “solid month” in terms of US (new) tractor and combine harvester sales. That’s according to the most recent report from the Association of Equipment Manufacturers (AEM).
The report comes on the heels of the recently announced trilateral trade agreement between the US, Canada and Mexico.
While total US sales of new farm tractors rose just 1.1% last month, compared to a year ago, sales of tractors over 100hp jumped 28.5%. Sales of 4WD tractors were up nearly 52%.
US sales of new (self-propelled) combines also rose by nearly 10%, compared to September of 2017.
Only one category, 40-100hp tractors, saw a sales downturn last month.
Meanwhile, January-September year-to-date growth totalled 7.5% for 2WD tractors. Under-40hp tractor sales gained 10%; 40-100hp tractor sales grew by 1.5%; while sales of 100hp+ tractors increased by 9%.
Unfortunately, Canadian retail sales of new tractors and combine harvesters did not fare well for the second consecutive month. Total sales of farm tractors dropped 11.5%, compared to a year ago. Sales of new (self-propelled) combines were down nearly 11%.
“We’re monitoring the recently announced trade agreement between the US, Canada and Mexico,” said AEM senior vice president of Ag services Curt Blades.
“Exports are vital for the economic stability and growth of US farming and manufacturing and this is a positive step with two of our key export partners.”