The Association of Equipment Manufacturers has released their 2010 outlook for agricultural machinery. It looks like an expectation of continued “continued weakness in U.S. and Canadian tractor sales.” This is comes from a survey they conduct of members. So although this year’s outlook is somewhat negative, future years look much better.
For all sizes of two-wheel tractors, however, the declines are expected to be less steep than 2009 losses. Double-digit decreases are expected for four-wheel-drive tractors, following relatively flat business in 2009. Combine sales are predicted to drop in the double digits for 2010 after 2009 sales growth. Sales of tractors and combines are then predicted to start rebounding through 2011 and 2012.
For other types of farm-related equipment covered in the AEM survey, overall 2010 demand for most products in the U.S. and Canada is expected to improve after 2009 business declines. All categories are predicted to be in the plus column for 2011 and 2012.
You can read the full results online.