November can be a slow month for new machinery sales compared with the previous month of October. And that trend continued in 2018 with overall tractor sales in the month being about half of that in October 2018, and combine sales were roughly half as well.
However, in reviewing AEM’s monthly sales report for new machinery in the U.S., the year-over-year and year-to-date data show many positive gains for machinery sales.
Four-wheel-drive tractor sales in November 2018 were up 60.7% compared with November 2017, and year-to-date the segment has sales up 15.9% compared with the previous year.
Combine sales in November 2018 were up 9.2% compared with November 2017, and year-to-date sales for combines are up 16.6% compared with 2017.
Total two-wheel-drive tractor sales were nearly flat (0.9%) comparing November 2018 to November 2017 sales. However, year-to-date, two-wheel-drive tractor sales are up 6.9% so far in 2018 compared with the first 11 months of 2017.
As new delivery of units to dealers declines toward the year’s end, inventories of all categories are lower than at the end of October.
“Equipment sales overall have been resilient this year, but we are starting to see some softening as the year winds down,” said AEM Senior Vice President of Ag Services Curt Blades in a statement. “Trade issues remain a major concern, especially the uncertainty caused by tensions with China. On a brighter note, we are encouraged by the administration's efforts regarding year-round availability of E-15 fuel. And we're urging swift action on the Farm Bill to provide some stability for farmers dealing with uncertain markets and lower farm income.”
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