U.S. and Canadian ag tractor monthly unit sales in July 2022 fell, while harvester sales grew in the U.S., according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales fell 21% for the month of July compared to 2021, while U.S. self-propelled combine sales for the month grew 9.2% to 715 units sold. That's the second straight month of gains in combine harvesters so far this year. Heavy-duty ag tractors were positive, including the 100+ horsepower 2WD tractor segment (up. 22.8%) and 4WD units (21.8%) indicating continued optimism among row-crop farmers. Mid-range tractors between 40 and 100 horsepower fell 16.3%, and the sub-40hp segment led segment losses, down 27.9%. Total farm tractor sales are down 14.8% year-to-date, while combine harvester unit sales are approaching even, now down only 2.2%, reversing the previous month's improvement.
"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. Farmer's don't invest in this kind of equipment unless they feel certain enough future markets will allow them to pay for them."
The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine reports.