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.
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.
The monthly retail sales for 100+ horsepower tractors exceeded our monthly forecast by 36 units while the year to date total exceeded our YTD forecast by 47 units or 0.5%.
Ag tractor and combine unit sales in April 2022 declined for the second month in a row, owing largely to supply chain difficulties, according to the latest data from the Assn. of Equipment Manufacturers (AEM).
100+ horsepower tractors reported retail sales of 962 units below our monthly forecast while the year to date retail totals were 1,201 units below our YTD forecast.
North American large ag equipment sales picked up again in February, according to the latest numbers released by the Assn. of Equipment Manufacturers. Combined U.S. and Canadian large ag unit sales were up 16.5% vs. up just 1.4% in January.
The 12 month moving average for 100+ horsepower tractors has been steadily growing for the past 12 months. Monthly retail sales exceeded our forecast by 280 units and year to date retail sales exceed our YTD forecast by 6.2%.
Growth moderated on a lack of available inventory and tougher comps, according to analysis of AEM sales data by Mig Dobre, senior research analyst with RW Baird.
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.