According to the Assn. of Equipment Manufacturers' latest report, U.S. sales of 2WD tractors in the 40-100 horsepower range were up 7.4% in April compared with April of last year and up 2.2% year-to-date. Sales in the U.S. for tractors less than 40 horsepower were down 0.4% in April compared with last year and up 0.6% year-to-date.
In Canada, sales of compact tractors fared better. Canadian sales for 2WD tractors less than 40 horsepower were up 5.2% in April compared with last year and up 3.9% year-to-date. Canadian sales of 2WD tractors in the 40-100 horsepower were down 4.4% in April compared with April of last year and up 1% year-to-date.
“We saw that 2017 was better than 2016, and in 2018, growth is sluggish but still positive,” said AEM Senior Vice President of Ag Services Curt Blades. “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.”
See the tables below for more details.