Tractor Sales Down 14.5% in November

U.S. sales of tractors in all classes dropped 14.5% in November 2024, compared to the same time last year, according to numbers from the Association of Equipment Manufacturers (AEM).

“November’s sales of Ag tractors and combines follow the same pattern of the last few months of softness in the market,” says Curt Blades, senior vice president at AEM. “This slowdown in sales can be traced back to high interest rates and uncertainty in the overall ag economy.”

November continued 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 November 2024 were 11,003, down 14.5% compared to 12,876 sold in November 2023. Year-to-date, AEM reports 200,138 total farm tractors were sold as of November this year, down 13.4% from 231,089 this time last year. Total farm tractor inventory began at 118,873 in November.

Tractor sales are broken down by horsepower range as follows:

Sales for 2WD sub-40-hp tractors in November 2024 were down 10.4% from 2023, with 7,040 sales this year, and 7,860 last year. Year-to-date, AEM reports 125,567 tractors have been sold in this category, down 14.5% from 146,816 at the same time last year. 2WD sub-40-hp tractor inventory 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, AEM reports 49,796 tractors have been sold in this category, down 10% from 55,346 at the same time last year. 2WD 40- to 100-hp tractor inventory began at 33,659 in November. 

Sales for 2WD 100-plus-hp tractors in November were down 37%, with 787 sales this year, compared to 1,250 last year. Year-to-date, AEM reports 20,774 tractors have been sold in this category, down 16.4% from 24,859 at the same time last year. 2WD 100-plus-hp tractor inventory 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, AEM reports 4,001 tractors have been sold in this category, down 1.6% from 4,068 at the same time last year. 4WD tractor inventory began at 731 in November. 

Combine Sales

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