“We’re monitoring the recently announced trade agreement between the U.S., Canada and Mexico,” said AEM Senior Vice President of Ag Services Curt Blades. “Exports are vital for the economic stability and growth of U.S. farming and manufacturing, and this is a positive step with two of our key export partners.”
While total U.S. sales of farm tractors rose just 1.1 percent last month, compared to a year ago, sales of tractors over 100 HP jumped 28.5 percent and sales of 4-wheel-drive tractors were up nearly 52 percent.
U.S. sales of self-propelled combines also rose by nearly 10 percent, compared to September of 2017. Only one category, 40-100 HP tractors, saw a sales downturn last month. Meanwhile, January-September year-to-date growth totaled 7.5 percent for 2-wheel-drive tractors, under-40 HP tractors gained 10 percent, 40-100 HP tractors grew 1.5 percent, and 100-plus HP tractors increased 9 percent.
Unfortunately, Canadian retail sales of tractors and combines did not fare well for the second consecutive month. Total sales of farm tractors dropped 11.5 percent, compared to a year ago, while sales of self-propelled combines were down nearly 11 percent.
View the chart below for more details.