November saw a significant dip in tractor sales in the under 40HP segment, according to the November Flash Report from the Association of Equipment Manufacturers (AEM).
In the largest sales segment (by total units), sales of under 40HP tractors in November were down 27.9 percent compared to the same month one year ago. For the year, sales are down nearly 19 percent compared to the same period a year ago. Sales also remained soft in the 40HP to under 100HP segment, down 10.7 percent for November, and remain 10 percent below the same level year to date compared to 2021, AEM states.
Sales in the over 100HP sector remain a bright spot, up 6.2 percent in November 2022 compared to November 2021. Year to date, sales are up 13.3 percent compared to the same period a year ago. Sales in the 4WD segment were 7.1 percent higher compared to November 2021, but still lag 2021s sales total by 6 percent, AEM adds.
Overall, total tractor sales were down 20.8 percent in November 2022 compared to November 2021, and lag 2021 year to date totals by 14.5 percent.
For the full report: https://www.aem.org/AEM/media/docs/Statistics/US-Month-Ag-Report-11-2022.pdf.