ASSN OF EQUIPMENT MANUFACTURERS (AEM) RELEASES MARCH 2020 AG EQUIPMENT SALES NUMBERS
Apr. 27, 2020
Source: Assn of Equipment Manufacturers (AEM) news release
Milwaukee, Wisconsin -- Unit sales of agricultural tractors and self-propelled combines in March 2020 fell across the board in the U.S. and Canada according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales decreased 15.6 percent in March compared to 2019 while U.S. March self-propelled combine sales fell 11.9 percent. That includes decreases in all segments, with combines and 40-100hp tractors (-15.2 percent) performing the best.
For Canada, November 100+hp tractor sales were the lone growth spot in North America, however, overall Canadian tractor unit sales fell 23 percent, with self-propelled combines following along losing 38.1 percent.
When compared to similar industries, like the U.S. auto and light truck market where the U.S. Bureau of Economic Analysis shows March unit sales having fallen nearly 42 percent overall, and a similar drop in U.S. heavy truck sales according to the St. Louis Fed, farm tractors and self-propelled combine unit sales are in better shape.
"Although the March numbers were likely impacted by COVID-19, It is too soon to tell the long-term impact of the current crisis on ag equipment sales," said Curt Blades, senior vice president of Ag Services at the Association of Equipment Manufacturers. "AEM has been working diligently to ensure agriculture is declared an essential industry by the governments in North America. As a result, our number one priority as an industry right now is doing what we can to meet the needs of farmers during planting time while keeping our employees and customers healthy."
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports.
AEM is the North America-based international trade group representing off-road equipment manufacturers and suppliers with more than 1,000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide. The equipment manufacturing industry in the United States supports 2.8 million jobs and contributes roughly $288 billion to the economy every year.