Combine harvester sales report double-digit gains in October for both the U.S. and Canadian markets, while total tractors fell in both countries according to the latest data from the Association of Equipment Manufacturers (AEM).
Total U.S. ag equipment unit sales stayed above the five-year average for the third month since April 2022. U.S. total farm tractor sales fell 10.8% for the month of October compared to 2021, being dragged down by a 23.6% drop in the sub-40 hp category. U.S. self-propelled combine sales for the month grew 77.4% to 1,678 units out the door. All ag tractor segments above 40 hp grew as well, with mid-range 40 to 100 hp two-wheel-drive units gaining 3.2%, 100-plus hp units up 25.5% and four-wheel-drive units up 9.4%. Total farm tractor sales are down 14% year-to-date, a slight improvement from the month prior, while combine harvester unit sales growth streak, now at five months, have the segment up 16.2% year-to-date, a big, positive change.
In Canada, only two segments showed growth: four-wheel-drive tractors (up 19.2%) and combine harvesters (up 32.6%). Overall unit sales in tractors were down 9.6%, with the biggest drag coming from mid-range, 40 to 100 hp units, down 12.9%. Unit sales in two-wheel-drive segments fell 10.1% overall with all segments falling. Year-to-date farm tractor unit sales were down 6.6% in Canada, while harvesters are finally positive for the year, now up 7.3% at 1,734 units sold.
“With all the new technology available, we’re happy to see farmers being able to take advantage of the technology on modern harvesters and tractors,” said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. “The drop in the U.S. sub-40 horsepower segment continues the trend we’ve been expecting given the significant growth in that segment driven by consumer spending changes during the pandemic. Despite the year-over-year reduction in sales to days, the small tractor sales remain above five-year average.”
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports here.
—From an Association of Equipment Manufacturers news release
