February 2024 new equipment sales weaker than 2023 according to AEM

(Kara Oosterhuis/RealAgriculture)

The Association of Equipment Manufacturers is out with their February 2024 sales reports for new machinery in Canada and the United States. Softer projected profitability in 2024 is being reflected in machinery sales early in the calendar year.

Sales in the United states are lower across all categories year-to-date.  Two-wheel drive tractors are down 14.4%, four-wheel drive tractors are down 7.2% and combines are down 18.9%. 

In Canada new equipment sales of tractors are also weaker in comparison to last year.  Two-wheel drive tractors are down 28.9% and four wheel drive tractors are down 3.4%.  Combines are the one category that Canada has higher year to date sales at a positive 6.3%. In Canada, combines had a strong February being up 27.2% compared to February of 2023.

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Categories: Machinery / News