Average monthly sales of four-wheel-drive tractors have increased dramatically this year compared with prior years, reports the Association of Equipment Manufacturers. In fact, each of the first four months of 2010 logged the highest since 2005.
For the second quarter in a row, respondents to AEM’s Industry Conditions Survey forecast growing demand for their product, and the economic outlook for the next 12 months is for modest growth.
This is despite the fact that the association’s credit survey found that 65% of members now say they know of customers (ag equipment buyers) having difficulty obtaining credit versus just 54% at this time in 2009. However this is still below the record 73% hit in the third quarter of 2009.
AEM also reports that prices for ag equipment are rising after a brief hiatus in the second half of last year.