U.S. tractor sales showed a significant drop-off in March, according to the Association of Equipment Manufacturers (AEM) Flash report.
AEM states sales of tractors in the under-40HP segment were down more than 25 percent compared to March 2021. Year-do-date, sales in that segment are off more than 10 percent. Sales in the 40HP to under-100HP segment also slowed, down 14 percent in March compared to the same period a year ago. For the year, sales lag nearly 6 percent compared to 2021. Sales in the 100+ HP segment did show some strength, up 7 percent compared to March 2021 and up 13 percent compared to 2021.
Sales of 4WD tractors were down 2 percent compared to March 2021 and are down slightly year-to-date, AEM also reports.
Of course, 2022 sales figures are being compared to a very strong 2021 sales year. But totals are moving closer to the five-year average.
For the full report: https://www.aem.org/AEM/media/docs/Statistics/US-Month-Ag-Report-3-2022.pdf.