The Association of Equipment Manufacturers says combine sales were up, while tractor sales offered mixed results.
Here’s 5 findings from the Association of Equipment Manufacturers April data.
- U.S. sales of self-propelled combines jumped 59% in April compared to the same month last year, and there was a 21% gain for April year-to-date combine sales.
- U.S. 4-wheel-drive tractor sales gained 2% in April compared to last year, with year-to-date April gains of 4% over last year.
- Sales in the 100-plus HP 2-wheel-drive category dropped 7%.
- 40-100 HP 2-wheel drive tractor sales gained 7%.
- Total April year-to-date sales for 2-wheel drive tractors remained relatively flat.
“We saw that 2017 was better than 2016, and in 2018, growth is sluggish but still positive,” said Curt Blades, AEM senior vice president, Ag services. “The downward trend in net farm income obviously is a concern since it is such a big factor in equipment sales. A bright spot, if you will, is the impact of continued replacement of aging machines; one downside is the continued threat of U.S. protectionism on farmers’ business as well as for equipment manufacturers. So, there’s still a lot of uncertainty with the year one-third over.”
Here is link to the full report online: https://www.aem.org/AEM/media/docs/Statistics/18-04-USAG.pdf
Source: Association of Equipment Manufacturers