U.S. tractor sales showed a major slowdown in April, according to the Association of Equipment Manufacturers (AEM) Flash report.
Sales of tractors in the under-40HP segment saw their second straight month of doubled-digit declines, down 25 percent compared to April 2021. AEM says sales in the 40HP to under-100HP segment were down nearly 20 percent. Sales in the 100+ HP segment were up 3.2 percent. Year to date, sales are down 13.7 percent on the 2WD sector, and down 8.1 percent in the 4WD sector, AEM adds.
Total farm tractor sales were down 22.3 percent compared to March 2021 and are 13.7 percent behind year-to-date totals of 2021.
AEM also notes for the first time many months, tractor and combine sales are close to the five-year average.
For the full report: https://www.aem.org/AEM/media/docs/Statistics/US-Month-Ag-Report-4-2022.pdf.