Ag Equipment Sales Rise in June
The overall sales of tractors and self-propelled combines were higher in both the U.S. and Canada during June. According to the latest data from the Association of Equipment Manufacturers, it’s the first time this year that the sales numbers rose. Total U.S. farm tractor sales rose 32% in June. Only four-wheel-drive tractor sales declined in the U.S. during June. Total year-to-date farm tractor sales are up 10% in 2020, while combines cut year-to-date losses to only 1.7% in the same period.
In Canada, tractor sales grew across just about all segments during June, with overall tractor sales up 32%.
“We’re seeing more areas of the economy open up from the previous pandemic-related shutdowns, so we’re not entirely surprised some of that pent-up demand is expressing itself right now,” says Curt Blades, Senior Vice President of Ag Services at AEM. “However, we’re currently keeping our optimism cautious, as the current state of things with COVID-19 could see a negative impact on demand moving forward.”
Blades added there is too much uncertainty surrounding COVID-19-related events and their impact on the agricultural markets to determine if this higher trend will keep going.”
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