MILWAUKEE, Jan. 14, 2016 /PRNewswire-USNewswire/ -- U.S. retail sales of small farm tractors under 40HP continued their positive growing trend in December 2015, showing an increase of 11.4 percent compared to the same period last year, according to the Association of Equipment Manufacturers (AEM), the leading trade organization for off-road equipment manufacturers and suppliers. Conversely, retail sales of 40-100HP tractors continued to decrease, reporting a 16.2 percent drop in December, which was the largest year-over-year drop in 2015 with only 5,685 units sold. In addition, year-over-year total retail sales of large equipment fell 3.3 percent with 409 units sold in December.
"Last year was a challenging year for the Ag industry as farm incomes dropped due to low commodity prices, decreased exports from a strong dollar and an oil price that eroded ethanol margins," said Charlie O'Brien, AEM senior vice president. "Although these issues are still of great concern to U.S. farmers, the good news for 2016 is that Section 179 has been extended and is retroactive, which will help encourage production ag equipment sales."
U.S. Agriculture Equipment Retail Sales – December 2015 Report:
| U.S. Agriculture Equipment Retail Sales (in Units) |
||||
| December |
% Change Y/Y |
YTD December 2015 |
% YTD Change Y/Y |
|
| 2WD Farm Tractors |
||||
| Under 40 HP |
7,856 |
11.4% |
118,348 |
8.0% |
| 40 to 100 HP |
5,685 |
-16.2% |
59,401 |
-2.9% |
| 100+ HP |
2,186 |
-34.5% |
23,930 |
-25.5% |
| Total 2WD Farm Tractors |
15,727 |
-8.4% |
201,679 |
-0.6% |
| 4WD Farm Tractors |
409 |
-3.3% |
3,111 |
-39.0% |
| Total Farm Tractors |
16,136 |
-8.3% |
204,790 |
-1.5% |
| Self-Propelled Combines |
689 |
-8.4% |
5,381 |
-32.5% |
| Copyright: Association of Equipment Manufacturers - Market Intelligence |
||||
About the Report
Data from AEM's Agriculture Equipment Retail Sales Flash Report is provided monthly and is derived from AEM member companies through our proprietary statistical reporting programs. The analysis of the data is provided by AEM's Market Intelligence department. Visit www.aem.org/agreports to view the reports, as well as reports from Russia and Canada.
About the Association of Equipment Manufacturers (AEM) - www.aem.org
Logo - http://photos.prnewswire.com/prnh/20150811/257537LOGO
SOURCE Association of Equipment Manufacturers
Share this article