U.S. SMALLER TRACTOR SALES STILL LEAD IN SEPTEMBER
Oct. 24, 2016
Source: Assn. of Equipment Manufacturers press release
Milwaukee, Wisconsin - U.S. retail sales of tractors under 40 horsepower and 40-100 horsepower continued to lead the way in September, and while sales of larger tractors rebounded from last month, year-to-date sales were still down, according to the latest data from the Assn. of Equipment Manufacturers (AEM), the leading trade group for off-road equipment manufacturers and suppliers.
U.S. retail sales for 2WD tractors under 40 horsepower gained 16.8% in September (compared to last year), with year-to-date sales up 11.7%. September sales of 2WD tractors 40-100 horsepower were up 3.9% year-over-year, but year-to-date sales were still down - minus 4.3%.
Sales of 2WD 100+ horsepower tractors in the U.S. dropped 7.3% for September, compared to minus 27.0% for August, with September year-to-date sales down 22.7%. September sales of 4WD tractors declined 17.9% (compared to minus 48.1% for August), with September year-to-date sales down 32.4%.
U.S. combine sales declined 34.6% for September and recorded a 24.2% drop for September year-to-date sales.
"While our current ag downturn is the result of lower commodity prices putting pressure on farm income, weak exports due to a strong U.S. dollar, and overall global economic malaise, we cannot underestimate the impact of inventories at the manufacturer and dealership level. A recent co-run survey by AEM and EDA, Equipment Dealers Assn., provides some insight on the issue from the manufacturer and dealer perspectives," states AEM Senior Vice President Charlie O'Brien.
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Data from AEM's Ag Tractor and Combine Report is provided monthly and is derived from AEM member companies through our proprietary statistical reporting programs. The analysis of the data is provided by AEM's Market Intelligence department. Visit www.aem.org/agreports to view the reports, as well as reports from Russia and Canada.