Tractor Sales Plummet in October

Sales of tractors for agricultural use plunged year-over-year in October, according to data from the Association of Equipment Manufacturers. Tractor sales dropped 14% from the same month a year earlier to 21,354 units. Combine sales fell almost 35%. These declines point to the overall softness in the ag economy following a robust five years of positive industry results. Sales of two-wheel drive tractors fell 15% to 20,631 units, led by a 38% drop in sales of those with 100 horsepower or more. Sales of tractors with 40 to 99 horsepower fell 13% to 5,868 and those with less than 40 horsepower lost 8.4% to 12,185 units. Successful Farming reports sales of four-wheel drive tractors were down 0.4% to 723 units. Meanwhile, combine sales plunged about 35% to 516 units.