Low Machinery Sales Close Out 2024

U.S. sales of tractors in all classes dropped 11.3% in December 2024 compared to the same time last year, according to numbers from the Association of Equipment Manufacturers (AEM).

“December’s sales of Ag tractors and combines follow patterns we saw throughout 2024 which reflect softness in the market,” says Curt Blades, senior vice president at AEM. “While the year has been marked by high interest rates and uncertainty throughout the overall ag economy, AEM is looking forward to the potential in 2025, and will continue to advocate for policies focused on positively impacting the industry.” 

December finished 2024 by continuing the downward trend in overall tractor and combine sales, with every month in 2024 falling below the five year average (2019-2023). 

Tractor Sales

Total farm tractor sales for December 2024 were 16,970, down 11.3% compared to 19,132 sold in December 2023. Year to date, AEM reports 217,200 total farm tractors were sold this year, down 13.2% from 250,218 in 2023. Total farm tractor inventory began at 121,723 in December.

Tractor sales are broken down by horsepower range as follows:

Sales for 2WD sub-40 hp tractors in December 2024 were down 7.5% from 2023, with 9,243 sales this year, and 9,989 last year. Year to date, AEM reports 134,911 tractors sold in this category, down 14% from 156,805 at the same time last year. 2WD sub-40 hp tractor inventory began at 76,272 in December.

Sales for 2WD 40-100 hp tractors in December were down 9%, with 5,276 sales in 2024, and 5,797 in 2023. Year to date, AEM reports 55,067 tractors sold in this category, down 9.9% from 61,143 at the same time last year. 2WD 40-100 hp tractor inventory began at 33,897in December. 

Sales for 2WD 100+ hp tractors in December were down 26.6%, with 2,093 sales this year, compared to 2,852 last year. Year to date, AEM reports 22,864 tractors sold in this category, down 17.5% from 27,708 last year. 2WD 100+ hp tractor inventory began at 10,714 in December.

Sales for 4WD tractors were down 27.5% in December, with 358 sales this year, and 494 last year. Year to date, AEM reports 4,358 tractors sold in this category, down 4.5% from 4,562 last year. 4WD tractor inventory began at 840 in December. 

Combine sales

Sales for self-propelled combines were down 26.4% in December with 444 sales this year compared to 603 last year. Year to date, AEM reports 5,564 combines were sold this year, down 24.3% from 7,349 last year. Self-propelled combine inventory began at 1,079 in December.