Harvesting corn with red combine jaycriss/ThinkstockPhotos

5 findings from Association of Equipment Manufacturers report

U.S. sales of self-propelled combines gained 23% in August compared to last year.

Sales of tractors and combines remained positive in the U.S. in August, according to the latest report from the Association of Equipment Manufacturers.

Among the results:

  • U.S. sales of self-propelled combines gained 23% in August compared to last year
  • U.S. sales of 4-wheel-drive tractors grew 17% month-over-month.
  • Year-to-date growth in U.S. sales reached 24% for combines and 13% for 4-wheel-drive tractors.
  • Total August U.S. sales of 2-wheel-drive tractors grew 14% compared to last year with gains in all size categories: 19% for under-40 HP tractors, 3% for 40-100 HP tractors, and 27% for 100-plus HP tractors.
  • August year-to-date growth for total U.S. sales of 2-wheel-drive tractors topped 8%: under-40 HP tractors gained 10.5%; 40-100 HP tractors grew 2.5%; and 100-plus HP tractors increased 7%.

“While we’re pleased with these positive numbers, we still face concerns. For example, we have a potential rewrite of NAFTA added to steel and aluminum tariffs, and the USDA recently predicted a double-digit decline in net farm income,” said Curt Blades, AEM senior vice president, AG services. “We’re continuing to push for trade action that does not harm farmers or equipment manufacturers as well as a timely passage of a farm bill to help bring some certainty to the marketplace.” 

Here is link to the full report online: https://www.aem.org/AEM/media/docs/Statistics/18-08-USAG.pdf 

Source: Association of Equipment Manufacturers

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