Year-over-year tractor sales are continue to slide in both Canada and the U.S.
According to new data from the Association of Equipment Manufacturers (AEM), October 2024 sales of ag tractors in Canada declined by 15.1 per cent compared to the same month in 2023. The story was similar in the U.S. where tractor sales dropped by 14.2 in October compared to the same period last year.
“October’s sales of ag tractors and combines follow a September that also showed a slowdown in sales,” says AEM senior vice president Curt Blades. “These declines point to the overall softness in the ag economy following a robust five years of positive industry results.”
Sales of U.S. combines fell by 34.6 per cent in October compared to the same month in 2023. Canadian combine sales dipped by 26.9 in the same time period.
Year-to-date numbers paint an equally bleak picture, with combine sales down over 11 per cent and tractor sales down 16.9 per cent. Only 4wd tractors remain in positive territory year-over-year at 12.9 per cent.
