Tractor, Combine Sales Down in February

OMAHA (DTN) -- The Association of Equipment Manufacturers (AEM) reported U.S. sales of four-wheel-drive (4WD) tractors in February fell 14.3% compared to the same month last year, and sales of combines were down 31.5%.

Sales of 100-plus horsepower ag tractors increased slightly in February 2024 over year-ago sales, according to AEM's monthly report. For the month, sales of 2WD, 100+ hp tractors rose 2.8% over February 2023.

For the first two months of 2024, total sales of tractors and combines are down compared to January and February in 2023.

Sales of two-wheel-drive, 100-plus hp tractors are off 8.3% for the first two months of this year compared to the same period in 2023 (276 fewer tractors sold this year, compared to last). Sales of the large, 4WD tractors are down 7.2% compared to the first two months of 2023 (35 fewer tractors sold this year, compared to the first two months of 2023).

Manufacturers have sold 814 combines over the first two months of this year. But that was down 18.9%, or 90 combines, compared to January-February 2023.

The story was a bit different in Canada. Combine sales rose 27.2% in February 2024 compared to a year ago and are up 6.3% year-to-date compared to January-February last year. A total of 131 combines were sold in February, adding to the overall year-to-date sales of 255 units. Total ag tractor sales fell in Canada by 28.2% year-to-date compared to the first two months of 2023.

"The combine sales in Canada are a bright spot when we take a deeper look at February's performance," says AEM Senior Vice President Curt Blades. "The uptick in sales of 100+ horsepower ag tractors in the U.S. also bodes well for the long-term strength of our industry moving forward."

Dan Miller can be reached at dan.miller@dtn.com

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