Ag equipment sales down across the board in June

All segments for ag equipment sales were down in June compared to the same time last year, according to sales numbers from the Association of Equipment Manufacturers (AEM).

“June’s sales of ag tractors and combines follow a May that also showed a slowdown in sales,” says Curt Blades, senior vice president at AEM. “This softness in the market follows a robust five years of sales. The challenges facing the subcompact tractor market illustrate why the passage of a strong farm bill is so needed to lift rural America and our farmers and growers.” 

Tractor sales

Total farm tractor sales for May 2024 were 22,870, down 16.1% from last year with 27,265 sold June 2023. Year to date, AEM reports 114,959 total farm tractors were sold as of June this year, down 11.5% from 129,928 this time last year. Total farm tractor inventory began at 133,533 in June.

Tractor sales are broken down by horsepower range as follows:

Sales for 2WD sub-40-hp tractors in June 2024 were down 18.7% from 2023, with 14,793 sales this year, and 18,187 last year. Year to date, AEM reports 74,780 tractors have been sold in this category, down 13.8% from 86,790 at the same time last year. 2WD sub-40-hp tractor inventory began at 82,130 in June.

Sales for 2WD 40- to 100-hp tractors in June were down 10.4%, with 5,650 sales this year, and 6,304 last year. Year to date, AEM reports 26,480 tractors have been sold in this category, down 8.6% from 28,976 at the same time last year. 2WD 40- to 100-hp tractor inventory began at 38,034 in June. 

Sales for 2WD 100-plus-hp tractors in June were down 13.9%, with 2,119 sales this year, compared to 2,462 last year. Year to date, AEM reports 11,776 tractors have been sold in this category, down 4.2% from 12,289 at the same time last year. 2WD 100-plus-hp tractor inventory began at 12,544 in June.

Sales for 4WD tractors were down 1.3% in June, with 308 sales this year, and 312 last year. Year to date, AEM reports 1,923 tractors have been sold in this category, up 2.7% from 1,873 at the same time last year. 4WD tractor inventory began at 825 in June. 

Combine Sales

Sales for self-propelled combines were down 31% in June with 463 sales this year compared to 671 last year. Year to date, AEM reports 2,673 combines have been sold as of June, down 17.3% from 3,232 at the same time last year. Self-propelled combine inventory began at 1,539 in June.