AEM report July Ag numbers extends growth streak

Overall unit sales of agricultural tractors and self-propelled combines in July 2020 were positive for the fourth month in a row in the U.S. and remained positive for the second consecutive month in Canada according to the latest data from the Association of Equipment Manufacturers (AEM).

AEM is the North America-based international trade group representing off-road equipment manufacturers and suppliers with more than 1000 companies and more than 200 product lines in the agriculture and construction-related industry sectors worldwide.

In the United States  total farm tractor sales rose 34.1 percent in July compared to 2019 while U.S. June self-propelled combine sales grew 33.6 percent.

Four-wheel-drive tractors continued their decline in unit sales in the U.S. in July, falling 21.2 percent in July and 12.8 percent year-to-date. Total year-to-date (YTD) sales of all farm tractor are up 14 percent in 2020, while combines broke into positive territory for the first time in 2020, now up 4.1 percent in the same period.

Canadian July tractor sales grew across every segment, leading to an overall gain of tractor sales of 33 percent.  That puts year-to-date unit sales for farm tractors up 4.8 percent, while combines monthly sales growth of more than 41 percent cut total YTD losses nearly in half to 16.8 percent.

“We’re continuing to see demand in the small, medium, and harvesting sectors,” said Curt Blades, senior vice president of Ag Services at AEM. “The continuously-developing nature of the COVID-19 situation, and its effect on the agricultural sector, is keeping our optimism cautious.  Growth in the U.S. market has outpaced the five-year average each month, so we’re hoping that continues.”

The full reports can be found in the Market Data section of the AEM website under Ag Tractor and Combine Reports. https://www.aem.org/Agriculture/