U.S. and Canadian ag tractor monthly unit sales in July 2022 fell, while harvester sales grew in the U.S., according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales fell 21 per cent for the month of July compared to 2021, while U.S. self-propelled combine sales for the month grew 9.2 per cent to 715 units sold. That’s the second straight month of gains in combine harvesters so far this year. Heavy-duty ag tractors were positive, including the 100+ horsepower 2WD tractor segment (up 22.8%) and 4WD units (up 21.8%) indicating continued optimism among row-crop farmers. Mid-range tractors between 40 and 100 horsepower fell 16.3 percent, and the sub-40hp segment led segment losses, down 27.9 per cent. Total farm tractor sales are down 14.8 per cent year-to-date, while combine harvester unit sales are approaching even, now down only 2.2 per cent on the year.
In Canada, overall unit sales in tractors were down 10.7 per cent, losing in all 2WD sectors, though 4WD tractors were up 27.9 percent. Unit sales in 2WD segments fell 11.5 per cent, led by 100+hp units fall of 21.3 per cent. Combine harvester unit sales fell 32.3 per cent to 247 units sold. Year-to-date farm tractor unit sales are down 8.3 per cent in Canada, while harvesters are down 22.1 per cent, reversing the previous month’s improvement.
“Right now, the trends we’re seeing in farm equipment unit sales tracks with trends we’re seeing in the overall economy,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “The segments that are still positive, harvesters and row-crop tractors, are high-dollar units. Farmers don’t invest in this kind of equipment unless they feel certain enough future markets will allow them to pay for them.”
Source: Association of Equipment Manufacturers August 10, 2022 news release