Ag tractor and combine unit sales had their first decline since July 2021, according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales fell 21.1 percent for the month of March compared to 2021, while U.S. self-propelled combine sales for the month dropped 10.2 percent to 343 units sold.
The 100+ horsepower 2WD segment was the lone growth sector in the U.S. market, up 7 percent, while mid-range tractors between 40 and 100 horsepower fell 14.1 percent, and the sub-40hp segment led losses, down 25.5 percent. Four wheel drive tractors were nearly flat for the second month in a row, dipping down just 2 percent, or four fewer units sold for the month. Total farm tractor sales are now down 7.9 percent year-to-date, while combines are down 19.2 percent for the same.
“This is a sales report we expected,” said Curt Blades, AEM senior vice president, industry sectors & product leadership. “Inventory levels are down more than 10 percent, and this is the result of supply chain difficulties catching up with this segment of the manufacturing industry.”