The sale of four-wheel drive and 100+ hp two-wheel drive tractors continue to lag behind last year’s pace, according to the Association of Equipment Manufacturers.
In its latest Flash Report, sales of four-wheel-drive tractors were down 22.3 percent compared to June 2013. For the year to date, sales in that segment are down nearly 11 percent. Sales of two-wheel drive tractors in the 100+ hp segment were down 19.3 percent for the month, and are down 10.3 percent year to date.
Combine sales continue to lag behind last year’s numbers, down 23.9 percent for June, and down 12.6 percent year to date.
These are some interesting numbers. It could be that we are seeing sales of new equipment take a respite, especially in light of lower commodity prices and uncertain weather conditions in some parts of the country.
What may be interesting is what this pause on new sales will have on the used equipment market. And it could just as well mean producers may be holding on to equipment just a little longer…putting a premium on maintenance.
Are you holding off any new equipment purchases?