Machinery Sales Down in March Due to Uncertainty Over Tariffs, Ag Economy

U.S. sales of tractors in all classes dropped 13.6% in March 2025 compared to March 2024, according to numbers from the Association of Equipment Manufacturers (AEM).

“We are thrilled to see this growth in Canadian equipment sales, however, the drop in agricultural tractor and combines in the U.S. reflect the complex challenges facing the market,” said Curt Blades, senior vice president of AEM. “There is uncertainty due to tariffs and the overall ag economy. The resilience and adaptability we’ve seen from agricultural equipment manufacturers keeps us optimistic about the long-term future of this market. AEM looks forward to continuing to advocate for policies that elevate the agricultural equipment industry and foster growth and innovation.”

Tractor Sales

Total farm tractor sales for March 2025 were 16,180, down 13.6% compared to 18,724 sold in March 2024. Year-to-date, AEM reports 36,269 total farm tractors were sold this year, down 15.1% from 42,701 in 2024. Total farm tractor inventory began at 118,280 in March.

Tractor sales are broken down by horsepower range as follows:

Sales for 2WD sub-40-hp tractors in March 2025 were down 13.8% from 2024, with 10,607 sales this year, and 12,300 last year. Year-to-date, AEM reports 22,528 tractors sold in this category, down 14% from 26,197 at the same time last year. 2WD sub-40-hp tractor inventory began at 75,996 in March.

Sales for 2WD 40–100-hp tractors in March were down 10.2%, with 3,724 sales in 2025, and 4,148 in 2024. Year-to-date, AEM reports 9,332 tractors sold in this category, down 12.8% from 10,706 at the same time last year. 2WD 40–100-hp tractor inventory began at 31,564 in March. 

Sales for 2WD 100-plus-hp tractors in March were down 18.6%, with 1,547 sales this year, compared to 1,900 last year. Year-to-date, AEM reports 3,873 tractors sold in this category, down 22.1% from 4,974 last year. 2WD 100-plus-hp tractor inventory began at 9,905 in March.

Sales for 4WD tractors were down 19.7% in March, with 302 sales this year, and 376 last year. Year-to-date, AEM reports 536 tractors sold in this category, down 35% from 824 last year. 4WD tractor inventory began at 815 in March. 

Combine sales

Sales for self-propelled combines were down 37.7% in March with 241 sales this year compared to 387 last year. Year-to-date, AEM reports 552 combines were sold this year, down 56.5% from 1,201 last year. Self-propelled combine inventory began at 1,063 in March.