U.S. tractor sales continue to show signs of slowing, according to the Association of Equipment Manufacturers (AEM) most recent Flash report.
While its not shocking that total unit retail sales are below last years blistering pace, the numbers are coming more in line with the five-year sales average and are only ahead of 2019s sales totals, AEM says.
The breakdown is this: In the 2WD segment, sales of under 40HP tractors were off 10 percent compared to June of 2021; and sales in the 40HP to under 100HP category were off 7.2 percent compared to June of 2021. Year-to-date, sales are off nearly 16 percent in the under 40HP category and down a little more than 12 percent in the 40HP to under 100HP segment. Sales in the 100+ HP segment showed some strength, up 9.6 percent compared to June of 2021 and up a tick over 10 percent year to date, AEM reports.
In the 4WD segment, sales were of 3 percent compared to June of 2021 and are off 11 percent year to date.
In total, sales of all farm tractors were down 8 percent compared to June of 2021 and are down more than 13 percent year to date, AEM adds.
For the full report: https://www.aem.org/AEM/media/docs/Statistics/US-Month-Ag-Report-6-2022.pdf.