AEM Reports Strong Machinery Sales In May

June 12, 2018 02:49 PM
 
“We are still looking at overall positive growth in equipment sales for 2018. We have seen more optimism from producers, and tax reform has been a plus,” said Curt Blades, senior vice president at AEM.

In the first five months of 2018, new combine sales in the U.S. are up more than 26% compared with the same time frame in 2017 according to the monthly sales report from the Association of Equipment Manufacturers (AEM.) In 2018, combine sales have tracked above 2017 every month, except March. In May, year-over-year combine sales were up more than 51%.

On MachineryPete.com, combine searches in the first five months of 2018 are up almost 24% compared with 2017.

“We are still looking at overall positive growth in equipment sales for 2018. We have seen more optimism from producers, and tax reform has been a plus,” Curt Blades, senior vice president at AEM said in a press release. “The continued specter of trade retaliation or a trade war over steel and aluminum tariffs, however, still poses a challenge for farmers and manufacturers.”

AEM data show sales of new tractors in 2018 through May were above 2017 sales by 5%. Sales of four-wheel-drive tractors in through May 2018 are above the first five months of 2017 by 1.8%. However, sales of 100+hp tractors (two-wheel-drive) are down 1%. Lower horsepower range tractors are up compared with 2107: 40 to 100 hp tractors up 3.4%; and under 40 hp tractors up 6.3%.

Since March 2018, total unit sales have trended above the five-year average.

“There is an overall positive sentiment in the market supported by increasing consumer confidence and buoyant economy,” said Mani Iyer, president, Mahindra USA in a press release. “We at Mahindra follow the industry growth and ride the wave with new products, new dealers and a passionate and energized work force. We expect 2018 to be a good year for tractor manufacturers.”

The full report from AEM is available here.

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