Typically October is a strong retail month for over 100 horsepower tractors and this year is no exception and this segment is only slightly higher than our original forecast.
Large ag equipment unit sales rose 29.6% year-over-year, with strong growth in combine and row-crop tractor sales, according to analysis from RW Baird analyst Mircea (Mig) Dobre.
Large ag unit sales rose 16.8% year-over-year, with strong growth in both row-crop tractors and combines, according to analysis from RW Baird Analyst Mircea (Mig) Dobre.
North American ag equipment sales in the first half of 2022 were down year-over-year in most categories, according to data from the Assn. of Equipment Manufacturers.
The larger tractor retail sales have been relatively flat for the past four months and is indicative of the availability of financial resources to replace units this year.
Row-crop tractors drove large ag unit growth in May according to analysis from RW Baird of the latest AEM equipment sales data. Compact tractor demand softness continues despite higher dealer inventories.
Even with the worsening conflict between Russia and Ukraine, some South American companies have reported to have received more orders for agricultural machinery.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.