MILWAUKEE, WISCONSIN (June 14, 2024) – U.S. sales of 4-Wheel-Drive tractors increased 9.4% in May compared to 2023, according to new data from the Association of Equipment Manufacturers (AEM). This increase follows April 2024’s uptick of 24% compared to the year before. The data also indicates U.S. year-to-date sales of 4-Wheel-Drive tractors are up 3.2%.
Total U.S. agriculture tractor sales dropped 11.5% compared to May 2023, while combine sales dropped 17.7% compared to last year.
“After the resilience of the last five years we’re starting to see softness in pockets of the market,” said AEM Senior Vice President Curt Blades. “Although the total year over year numbers show declines, subcategories of the market remain strong, particularly larger equipment. The subcompact tractor market shows some year over year challenges following record highs during the pandemic. We will continue to advocate for agriculture and rural America, with a focus on the swift passage of a robust farm bill, as it provides the certainty farmers need to make longer term capital investments in equipment.”
Canadian sales of 4-Wheel-Drive tractors also increased year-to-date in May, with an uptick of 5.7%, but fell 7.5% compared to May 2023. Total Canadian sales of combines jumped 58.4% compared to May 2023, and are up 23.8% year-to-date. Total Canadian agriculture tractor sales are down 10.7% compared to last year and dropped 14.5% year-to-date.
The Ag Tractor and Combine reports can be found on the AEM Market Share Statistics page. The U.S. report can be downloaded from this page, while the Canadian report is available for download here.
