Retail sales of tractors under 40 horsepower and between 40-100 horsepower rebounded in August. However, sales of larger tractors and combines continued their double-digit declines in the newest data available from the Association of Equipment Manufacturers (AEM).
U.S. retail sales for two-wheel drive tractors under 40 horsepower gained 21 percent in August, and are 11 percent higher on the year-to-date. August four-wheel drive tractor sales declined 48 percent year over year, and combine sales declined 22 percent for August.
According to Charlie O’Brien, Association of Equipment Manufacturers “Growth in the under-40 horsepower segment was strong during August and farm tractors in the 40-100 horsepower range reversed a lower recent monthly trend,” said Charlie O’Brien, AEM Senior Vice President. He said the over 100 horsepower two and four-wheel drive tractors are underperforming their five-year average.
“Earlier in the year, we felt the market was stabilizing,” said O’Brien. “As we passed the middle of 2016, we continue to see smaller equipment sales thriving and the larger equipment sales remain depressed.”
(From the National Association of Farm Broadcasters News Service)