June Total Farm Tractor Sales Positive Year-Over-Year

Total farm tractor unit sales in the U.S. turned positive for the first time in 2023, led by continued strength in large tractors and combines according to the latest data from the Association of Equipment Manufacturers (AEM).

Gains in the U.S. market were led by 100+hp 2WD units, up 25.4 percent, closely followed by 4WD units up 21.9 percent. However, a change from the previous month is a small gain in the sub-40hp 2WD segment, up 0.2 percent, that took overall sales positive since they represent more than 66 percent of total unit sales volume for the month. U.S. self-propelled combines also marked another large gain of 9.8 percent. At the mid-year mark, year-to-date unit sales show a gain of 45.5 percent in the 4WD segment over that same period, and combines are up 51.5 percent.

EDITOR’S TAKE:

The continued strength in larger tractors and combines still owes some to the strength of commodities markets, and the appeal of more efficient technologies available on modern equipment. On-going positive sales of the larger, more expensive units merely demonstrate the underlying solid financial foundation of the agricultural sector. And now the sales of smaller, less than 100HP tractors are picking up as well, which is welcome news. Farmers/ranchers should be at the top of every CAD member’s prospect list. In addition, every CAD member should have their inventory listed on AgTruckTrader.com – after all, it targets farmers and ranchers and offers a free service to list your trucks on the site.