Large ag unit retail sales were down 14.6% year-over-year, with declines in row-crop tractors and combines more than offsetting a very slight increase in 4WDs.
Combined U.S. and Canada large ag unit sales were down 3.1% year-over-year in March (down 7.9% in February). U.S. large ag equipment sales were down 3.4%.
Combined U.S./Canada large ag equipment unit sales were down 1% year-over-year in December (vs. +4.4% in November, –8.9% in October and +6.1% in September).
According to a Nov. 15 report from Farm Credit Canada by Senior Economist Leigh Anderson, ag implements is one of 2 equipment categories forecast for sales growth in Canada in 2024.
Large ag equipment unit sales were up 4.4% year-over-year in November, led by 4WD tractors, according to the latest data from the Assn. of Equipment Manufacturers.
Titan Machinery reported record third quarter earnings for fiscal year 2024 on Nov. 30. The Case IH dealership group achieved revenues of $694 million for the period ending Oct. 31, 2023, up 3.8% vs. the same period last year.
In its most recent earnings released Nov. 22, John Deere reported $61.3 billion in total net sales for its fiscal year 2023, up 16% year-over-year. Net sales in the fourth quarter were down 1% year-over-year to $15.4 billion.
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.
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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.