U.S. tractor and combine monthly unit sales in May 2022 fell below the five-year average for the first time since March 2020, while Canadian sales remained above the line.
The Association of Equipment Manufacturers released the monthly data last week, which shows U.S. total farm tractor sales fell 14.5 percent for the month of May compared to 2021, and U.S. combine sales for the month declined 12.7 percent to 315 units sold.
Total farm tractor sales and combine sales are both down 14.2 percent year-to-date. In Canada, unit sales fell 11.3 percent, and combine sales fell 28.4 percent.
Year-to-date farm tractor unit sales are down 8.6 percent in Canada, while harvesters are down 28.1 percent.
AEM’s Curt Blades says, “Supply chain remains the primary issue in the ag equipment market right now.”
Blades points out another thing to keep in mind, especially when comparing numbers year-over-year, is 2021 sales were significantly above historic trends.
(Story Courtesy of the NAFB News Service)