Uncover the Reasons Behind the Plunge in Agricultural Equipment Sales

Tractor Sales

In November 2024, total farm tractor sales reached 11,003, a decrease of 14.5% compared to 12,876 sold in November 2023. Year-to-date, the figure stands at 200,138, down 13.4% from 231,089 last year. The inventory of total farm tractors began at 118,873 in November.

Breaking down tractor sales by horsepower range reveals interesting trends. For 2WD sub-40-hp tractors, sales in November 2024 were down 10.4%, with 7,040 sold this year compared to 7,860 last year. Year-to-date, 125,567 tractors have been sold in this category, a 14.5% decrease from 146,816 at the same time last year. The inventory of 2WD sub-40-hp tractors began at 74,106 in November.

Sales for 2WD 40- to 100-hp tractors in November were down 13.6%, with 3,009 sales this year and 3,484 last year. Year-to-date, 49,796 tractors have been sold in this category, a 10% decrease from 55,346 last year. The inventory of 2WD 40- to 100-hp tractors began at 33,659 in November.

For 2WD 100-plus-hp tractors, sales in November were down 37%, with 787 sales this year compared to 1,250 last year. Year-to-date, 20,774 tractors have been sold in this category, a 16.4% decrease from 24,859 last year. The inventory of 2WD 100-plus-hp tractors began at 10,377 in November.

Sales for 4WD tractors were down 40.8% in November, with 167 sales this year and 282 last year. Year to date, 4,001 tractors have been sold in this category, a 1.6% decrease from 4,068 last year. The inventory of 4WD tractors began at 731 in November.

Combine Sales

In November, sales for self-propelled combines were down 46.7%, with 145 sales this year compared to 272 last year. Year-to-date, 5,120 combines have been sold as of November, a 24.1% decrease from 6,746 at the same time last year. The inventory of self-propelled combines began at 1,070 in November.