Declining combine sales drove the first large ag equipment unit sales decline since April 2022 (–8.9% year-over-year), according to the latest data from AEM.
In its 2Q23 earnings report released July 27, AGCO reported $704.1 million in sales of combines, application equipment and other machinery for the first half of 2023, a 65.7% year-over-year increase
Overall U.S. ag tractor unit sales gained in all but one segment. Total combine harvester sales in the U.S. are up, and in Canada, they were the biggest growth spot, as well.
In reporting its results for the first quarter ended March 31, 2023, AGCO said strong product demand has resulted in an elevated number of orders that could result in a 3-5% increase in production hours for 2023.
Large ag equipment sales rose 14.3% year-over-year in March, with robust growth in 4WD and combines more than enough to offset a modest decline in row-crop tractors, according to the latest data from the Assn. of Equipment Manufacturers.
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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.