Report: U.S. row crop tractor sales "trending with the economy"
According to the Association of Equipment Manufacturer's monthly "Flash Report," the sale of all tractors during July 2022 in the U.S. were down 21% from the same month last year.
In July, a total of 22,910 tractors were sold which compares to 29,011 sold in 2021.
For the month, two-wheel drive smaller tractors (under 40 HP) were down 28% from last year, while 40 & under 100 HP were down 16%. Sales of 2-wheel drive 100+ HP were up 23%, while 4-wheel drive tractors were up 22%.
For the year, two-wheel drive smaller tractors (under 40 HP) are down 18% from last year, while 40 & under 100 HP are down 13%. Sales of 2-wheel drive 100+ HP are up 12%, while 4-wheel drive tractors are down 6%.
Combine sales in July totaled 715 up 9% from last year. Year to date sales of combines in 2022 total 2,865, a decrease of 2% from the same period in 2021.
"Right now, the trends we're seeing in farm equipment unit sales tracks with trends we're seeing in the overall economy," said Curt Blades, senior vice president, industry sectors and product leadership at the Association of Equipment Manufacturers. "The segments that are still positive, harvesters and row-crop tractors, are high-dollar units. Farmers don't invest in this kind of equipment unless they feel certain enough future markets will allow them to pay for them."