Home Crop Monitoring Waning inventories a possible explanation for lower tractor sales: AEM

Waning inventories a possible explanation for lower tractor sales: AEM

[ad_1]

North American tractor gross sales had been down in June, as new tractor inventories dwindled, in accordance with the Affiliation of Tools Producer’s (AEM) newest month-to-month report.

After sturdy small tractor gross sales in 2020, the <40 horsepower class led the year-over-year decline within the U.S. and Canada, whereas gross sales of 100+ horsepower tractors had been larger in each international locations in contrast with final June.

“The strength in the bigger row-crop units shows conditions in farm country remain positive, indicating a good-looking crop in the field and the promise of good commodity markets,” famous Curt Blades, AEM’s Senior Vice President of Ag Providers.

Canada

AEM says month-to-month tractor and mix gross sales in Canada for the month of June had been “a mixed bag” — the <40hp and mix segments declined versus final 12 months, whereas gross sales had been up for bigger 2WD and 4WD machines. The largest development was within the 100+ hp 2WD class, up 70 per cent, with 343 models offered.

Whole farm tractor gross sales in Canada for June had been down barely, three per cent, the primary year-over-year lower in 2021 (see graph beneath).

12 months-to-date tractor gross sales in Canada, as of the top of June, had been nonetheless 36.3 per cent larger than final 12 months, with mix gross sales up 20.3 per cent.

(supply: AEM)

U.S.

Whole farm tractor gross sales within the U.S., in the meantime, fell 12.7 per cent in June in comparison with 2020, whereas mix gross sales rose 4.1 per cent. Main the tractor decline was the <40hp class, falling 18.4 per cent, adopted by a small decline within the 41 to 100 hp section, down 3.1 per cent. All different classes had been constructive.

12 months-to-date farm tractor gross sales within the U.S. stay up 16.7 per cent and combines up 11 per cent.

Declining inventories

AEM says declining inventories could clarify a number of the downward stress on gross sales.

The trade group says new farm tractor stock in Canada for June was down 33.2 per cent from June 2020. U.S. complete farm tractor stock was 41.3 per cent beneath June 2020 ranges.

[ad_2]

Source link

Most Popular

Hemp transplanters: an agricultural technology breakthrough

Hemp has the potential to revolutionize many industries. With so many uses and benefits—from textiles, furniture, paper, clothes, biodegradable plastics, paint, insulation, biofuel, and...

Vegetable transplanters: an in-depth explanation of these automatic planter machines

Transplanters aren’t exactly a new agricultural technology. The first transplanter was a rice transplanter invented in 1898 by Heigoro Kawano. Transplanters for rice, vegetables,...

What’s new in tomato farming technology?

Tomatoes are one of the most economically significant crops in the world. It’s estimated that 188M tomatoes were produced worldwide in 2018. Tomato growers, on...