North American ag equipment sales were up 1% year-over-year in May following 17% growth in April and flat growth in March. U.S. sales increased were up 5% year-over-year (combines down 13%, 4WD tractors up 2%, row crop tractors up 9%).
North American ag equipment sales were flat year-over-year in April following 5% growth in March and –4% decline in February. U.S. sales increased 7% year-over-year.
Looking back, 2017 will most likely be viewed as the turning point in agricultural equipment sales for this cycle. While there will probably remain some weakness in the larger tractors and combines in 2018, there are definite signs of a bottom developing.
Farm equipment sales history is replete with hills and valleys and we certainly are in a valley now. Traditionally, the range between the hilltop and the valley floor is about 20% in terms of unit sales.
2016 is shaping up to be a difficult year but there are some bright spots shining through. U.S. farmers continue to exhibit some financial strength and that should allow them to take advantage of any future buying opportunities that might arise.
While North American retail sales of ag equipment were weak overall in October, 4WD sales were strong in both the U.S. and Canada, according to the latest numbers released by the Assn. of Equipment Manufacturers.
North American large ag equipment sales continue to be weak, with row-crop tractor sales declining 24.7%, 4WD tractor sales down 48.1% and combine sales dropping 25.5% year-over-year in March.
While North American large ag equipment sales continued to weaken in February, mid-range and compact equipment sales experienced growth during the month, according to the latest numbers released by the Assn. of Equipment Manufacturers.
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