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AEM EXECUTIVE COMMENTS ON THE CURRENT FARM MACHINERY MARKET
Oct. 15, 2015
Association of Equipment Manufacturers (AEM) reports:
U.S. retail sales of small farm tractors under 40HP decreased 2.4 percent in September 2015 compared to the same period last year, according to the Association of Equipment Manufacturers (AEM), the leading trade organization for off-road equipment manufacturers and suppliers.
Year-over-year, retail sales for all other tractor categories also decreased, led by four-wheel drive tractor sales, which were down 48 percent in September.
Year-to-date sales of the smaller, less than 40HP tractors maintained their growth compared to 2014, while sales of 40 to 100HP farm tractors remained stable.
In a more long-term comparison, retail sales in units for agriculture tractors and combines nearly matched the 5-year average (2010-2014).
"We're not surprised to see slower sales during August and September due to seasonal trends, but the year-over-year dip, especially in the large and 4WD farm tractor category, is quite significant," said Charlie O'Brien, AEM's senior vice president.
"Lower commodity prices and lower farm incomes continue to impact equipment purchases. With farmers' balance sheets still relatively healthy, we look to a correction in equipment inventories and hopefully the reactivation of incentives like Section 179 to stabilize equipment sales."
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