Farm Machinery Sales Continue to Decline in July

Industry Outlook Remains Uncertain Amidst Economic Challenges

Key Takeaways

• Total ag tractor sales fell by 141 units in July compared to the previous year.
• Year-to-date sales are down by 119 units, indicating a continued decline in demand.
• Economic uncertainty and rising input costs are contributing factors to the slowdown in sales.

The latest industry figures show that farm machinery sales remain sluggish, with total ag tractor sales dropping by 141 units in July compared to the same month last year.

This marks a continuation of the downward trend seen in recent months, with year-to-date sales now 119 units lower than last year.

Experts attribute the decline in sales to a number of factors, including economic uncertainty, rising input costs, and a decline in farm income.

The Farm Progress Show, which is scheduled to be held from August 27 to August 29, 2024, will provide an opportunity for industry stakeholders to discuss the challenges facing the sector and explore potential solutions.

Stay tuned for our upcoming article, which will delve deeper into the factors behind the decline in farm machinery sales and explore the outlook for the industry in the coming months.

In the meantime, here are some additional resources that you may find helpful:

• Farm Machinery Sales Continue to Decline in July | Agriculture.com
• 7 Ag Stories You Can't Miss: August 8, 2024 | Farm Progress
• Farm Progress Show 2024 Set for August 27-29 | Agriculture.com