Farm Equipment Sales Increasing Quicker Than General Economy

MILWAUKEE, WI – Even though a good portion of the economy struggled in November, farm equipment sales continued to grow, according to the latest data from the Association of Equipment Manufacturers (AEM). On the whole, farm tractor sales in the U.S. increased 41 percent during the month, compared to 2019, and combine sales increased as well by more than 33 percent. Year to date figures show growth in every category explains Curt Blades, Senior Vice President of Ag Services with AEM. Four-wheel drive units are up almost 5 percent and large tractors (over 100 horsepower) are running more than 1 percent higher than in 2019. Compared to last year, combine sales are also more than 6 percent greater as the farm economy has experienced higher incomes in 2020. “This sales report continues the generally positive trends we have seen since April,” Blades says. “That trend includes strong growth in the smaller units, while bigger units are following along a little more slowly.”
(SOURCE: All Ag News)