Combines and 4WD tractors close out 2023 with gains, other segments declined

Year-over-year sales for combine harvesters, 4WD tractors, and 100+ hp 2WD tractors closed out December with gains from 2022, but all other market segments declined in 2023, according to sales numbers from the Association of Equipment Manufacturers (AEM).

“Seeing year-over-year gains in U.S. sales of both combine harvesters and 100+hp tractors is a welcome sight as 2024 gets underway,” says Curt Blades, vice president of AEM. “While several tractor segments fell last month versus 2023, we’re still confident in the strength of the equipment market and remain optimistic about its long-term growth.”

Year to date, AEM reports 250,265 total farm tractors were sold as of December 2023, down 8.2% from 272,659 at the end of 2022.

Supply has been mounting for the better part of 2023 for row crop tractors and combines, putting a strain on dealerships’ interest expenses, says Andy Campbell, director of insights at Tractor Zoom. AEM’s December 2023 report demonstrates manufacturers pulling in their horns in anticipation of a slower 2024. 

“The fact that we are seeing 4WD production slow down year over year is the most telling part of this report,” says Campbell. “These larger tractors have not been a source of over-supply in 2023 like other big categories, and December is the first month in a long time we’ve seen production slow for 4WD tractors.”

Tractor sales

Total farm tractor sales for December 2023 were 19,208, down 5.1% compared to 20,237 sold in December 2022. Tractor sales are broken down by horsepower range as follows:

Sales for 2WD sub-40 hp tractors in December 2023 were down 5.8% from 2022, with 9,959 sales this year, and 10,568 last year. Year to date, AEM reports 156,070 tractors have been sold in this category, down 10.7% from 174,711 at the same time in 2022.

Sales for 2WD 40-100 hp tractors in December 2023 were down 7.7%, with 5,899 sales, and 6,391 in 2022. Year to date, AEM reports 61,881 tractors have been sold in this category, down 9.1% from 68,095 at the end of 2022.

Sales for 2WD 100+ hp tractors in December were up 3.6%, with 2,857 sales in 2023, compared to 2,759 last year. Year to date, AEM reports 27,750 tractors have been sold in this category, up 5.2% from 26,387 at the end of 2022.

Sales for 4WD tractors were down 5% in December, with 493 sales in 2023, and 519 in 2022. Year to date, AEM reports 4,564 tractors have been sold in this category, up 31.7% from 3,466 at the end of 2022.

Combine sales

Sales for self-propelled combines were down 16.4% in December 2023 with 610 sales compared to 730 in 2022. Year to date, AEM reports 7,369 combines had been sold as of December, up 1.7% from 7,248 at the end of 2022.