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AEM'S CURT BLADES COMMENTS ON JUNE FARM MACHINERY SALES REPORTS
Jul. 14, 2020
Association of Equipment Manufacturers (AEM) reports:
Overall unit sales of agricultural tractors and self-propelled combines in June 2020 rose in the U.S., and for the first time this year, grew in Canada as well according to the latest data from the Association of Equipment Manufacturers (AEM).
U.S. total farm tractor sales rose 32.7 percent in June compared to 2019 while U.S. June self-propelled combine sales grew 36.6 percent. Only four-wheel-drive tractors declined in unit sales in the U.S. in June. Total YTD sales of all farm tractor are up 10.5 percent in 2020, while combines cut YTD losses to only 1.7 percent in the same period.
For Canada, June tractor sales grew across almost all segments, leading to an overall gain of tractor sales of 32.5 percent, with 100+hp tractors the only segment in the red, falling 20.2 percent to 202 units sold. That puts YTD unit sales for farm tractors statistically flat with 2019, while combines are down 30.8 percent for the year despite 14.4 percent growth in the month of June.
"We're seeing more areas of the economy open up from the previous pandemic-related shutdowns, so we're not entirely surprised some of that pent-up demand is expressing itself right now," said Curt Blades, senior vice president of Ag Services at the Association of Equipment Manufacturers.
"However, we're currently keeping our optimism cautious, as the current state of things with COVID-19 could see a negative impact on demand moving forward. Right now, there is too much uncertainty in COVID-19-related events, and their impact on ag markets, to determine whether or not this trend will continue."
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