Ag Equipment Intelligence’s latest Dealer Sentiments & Business Conditions survey shows dealers are forecasting 2025 sales to be down 12% year-over-year, unchanged from the month before.

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In the latest survey, a net 37% of dealers are forecasting sales declines this year, an improvement from 38% and 44% the previous two months. 

Generally speaking, dealers are less pessimistic in their outlook for sales declines than the OEMs. Deere is forecasting North American large ag unit sales to be down 30% in 2025 and small ag unit sales down 10-15%. AGCO and CNH are both expecting 2025 large ag sales to be down in the range of 25-30%.

One dealer in the corn belt commented that farmer sentiment remains depressed and customers are delaying having early order program conversations. 

Another dealer in the Mountain/Pacific region said, “General uncertainty persists and tariffs are not helping. Farmers are concerned they will start to incur tariff surcharges on equipment and parts. We have started to see some tariff surcharges from shortline manufacturers as well as some parts.”

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