The Association of Equipment Manufacturers (AEM) announces farm tractor sales continued to grow in April 2021. Per the association's press release announcing the April figures, U.S. farm tractor unit sales continued their double-digit growth rate in both the U.S. and Canada, and inventories continued to fall.
According to AEM, tractor sales were up in all segments in both the U.S. and Canada. “April was the month we were watching to see how this growth trend would look once it hit the official 12-month mark,” said Curt Blades, Senior Vice President of Ag Services at the Association of Equipment Manufacturers, in the association's press release announcing April figures. “Seeing the larger row-crop units leading the way in segment gains shows the pull rising commodity prices have been having on equipment sales.”
More on April's agricultural equipment sales from AEM's press release (issued May 12, 2021):
U.S. total farm tractor sales rose 22.7% in April compared to 2020, which was the first month of the current sales growth trend, while U.S. self-propelled combine sales fell 3.2%. U.S. tractor sales grew across every segment, with the biggest gains in the 100+ hp segment, up 29.2%. The midsize 40-100 hp units were up 28.8%, and the sub-40 hp class is up 20.8%. Four-wheel-drive units grew 15.1%, putting them up 12% year-to-date.
For Canada, April monthly tractor and combine sales were positive across all segments, with the 4WD segment nearly doubling, up 93.3% to 201 units sold, while total farm tractor sales were up 72.3% to 3,671 units sold. Self-propelled combines also grew 23.1%.
2021 is expected to be a positive year for the agricultural equipment market. As noted by Eric Raby, President & GM – Sales at CLAAS during a recent podcast interview with OEM Off-Highway, favorable commodity prices and improved farmer sentiment has helped the industry. These market drivers are expected to continue throughout the year.
Listen to the full interview with Raby to get more insight into the agricultural equipment market in 2021.