Major supply chain disruptions and a strike at a major tractor manufacturer does not seem to be slowing U.S. tractor and combine sales, according to the October Flash Report from the Association of Equipment Manufacturers (AEM).
Sales in the 100+ HP tractor were more than 10 percent higher than October of 2020 and are up more than 23 percent year-to-date. Sales in the 40 to under 100 HP segment were also up 4 percent over October 2020 and remain nearly 12 percent over year-to-date numbers. And in the hot under 40 HP segment, sales were up 4.5 percent over October 2020 and remain nearly 10 percent over year-to-date totals, AEM states.
Total 2WD farm tractor sales are running more than 11 percent over year-to-date totals.
AEM adds sales in the 4WD segment showed a slight dip of 6.3 percent over October 2020, but remain more than 20 percent higher year-to-date.
Not surprisingly, sales of self-propelled combines saw a whopping 72.9 percent increase over October 2020 and remain 24 percent over 2020.
Overall, AEM reports 2021 sales totals remain well ahead of last year and the five-year average. Demand is definitely strong. It will be interesting to see if, or when, market disruptions will impact sales totals.
For the full report: https://www.aem.org/AEM/media/docs/Statistics/US-Month-Ag-Report-10-2021.pdf.