MILWAUKEE, WI – For the first time in almost a year, tractor and combine sales fell below the pace of the previous year with a steep decline in farm tractor sales according to the latest data from the Association of Equipment Manufacturers (AEM).
Domestic farm tractor sales fell more than 21 percent for the month of March compared to 2021, while combine sales for the month dropped more than 10 percent as well.
Curt Blades is senior vice president, industry sectors & product leadership with AEM and says the news was expected. “Inventory levels are down more than 10 percent in both the U.S. and Canada and this is the result of supply chain difficulties catching up with this segment of the manufacturing industry.”
Not all classes of tractors experienced the decline as the largest class of two-wheel drive tractors experienced a 7 percent year-over-year increase.
Otherwise, the red-hot “hobby” class of tractors (under 40 horsepower) fell almost 26 percent in a category that saw explosive growth during the coronavirus lockdowns and the very large four-wheel-drive tractors slipped just a couple of percentage points from 2021.
Overall, total farm tractor sales are down nearly 8 percent for the year while combine sales are more than 19 percent lower than the same time period one year ago.
(SOURCE: All Ag News)