Low crop prices don’t appear to be deterring farmers from making capital investments. U.S. sales of self-propelled combines and 4-wheel-drive tractors as well as total U.S. 2-wheel-drive tractor sales increased in August 2019 as compared to August of last year, according to the latest data from the Association of Equipment Manufacturers.
Here’s the highlights:
- U.S. 4-wheel-drive tractor sales increased 19.3% in August compared to last year.
- Self-propelled combine sales increased 11.5% compared to August 2018.
- Total U.S. sales of 2-wheel-drive tractors in August increased 1.9% compared to August last year
- Sales of under 40 HP 2-wheel-drive tractors increased 2.1%.
- Sales of 100-plus HP tractors increased 13.6%.
- Sales of 40-100 HP tractors decreased 1.4%.
“Although the numbers are flat to positive for the year, we and the industry remain cautious about the overall ag economy,” said Curt Blades, senior vice president of Ag Services at the Association of Equipment manufacturers.