Positive 2018 Combine and Tractor Sales Signal Optimism for 2019
Despite lingering trade uncertainty and an overall weak farm economy, 2018 was a solid year for combine and tractor sales, reports the Association of Equipment Manufacturers (AEM) in the December U.S. Ag Tractor and Combine Report.
In July, before trade issues had reached their peak, AEM members reported a positive trend. Despite those trade concerns, farmers continued to look for 40 HP tractors, four-wheel-drive tractors and self-propelled combines.
“As we look at 2019, we’re still seeing a lot of uncertainty related to the Administration’s efforts to reset global trade parameters,” says Curt Blades, AEM senior vice president, agriculture for AEM.
“We’re also watching some uncertainty with stock market ups and downs which could indicate a potential slowing economy. As a whole, we remain optimistic that the replacement market for large equipment will continue through 2019, and that the small tractor market will continue to be a bright spot on overall sales numbers,” he adds.
Top Highlights:
Sales of self-propelled combines showed a 18.2% growth in year-to-date sales. U.S. sales gained 29.7% month-over-month in December compared to last year
Year-to-date sales of four-wheel-drive tractors gained 12.9%, even as U.S. sales declined 9.2% month over month.
Year-to-date sales of two-wheel-drive tractors for December were up 6.8%. Specifically:
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Under-40 HP tractors gained 9.2%
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40-100 HP up 1.5%
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100+ HP grew 5.5%
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