Equipment Sales Mixed in July

The Association of Equipment Manufacturers (AEM) report for July show that sales of 100+HP tractors, 4WD tractors and combines were all in positive territory for the month of July 2022 versus July 2021. Sales of smaller horsepower tractors are down nearly 27.9% for July comparison and 17.8% for the year-to-date figures. The 100+ HP tractors were the only category in growth mode for both month-to-month (22.8%) and YTD. Combine sales increased 9.2% in July while 4WD tractors were up 21.8% during the same period.

Editor’s Take:

Farmers are definitely purchasing equipment when they can find it in their preparation for fall harvest. What’s not selling, despite being more available, are smaller horsepower tractors that are used by “weekend farmers” or property owners with a few acres and perhaps some livestock. As we have shared previously in the AIR, those purchases are tied much more closely to what is happening in the general economy and the stock market. With inflation running at record highs and uncertainty in the stock market, not to mention the geo-political tensions, it’s no wonder sales of those products are slumping. By contrast, farmers are active buyers. They are looking for parts, service and new trucks as well. Isn’t it time you let them know that you have all that plus AgPack!