Tractors Sales Brighten Farm Equipment Outlook

MILWAUKEE - Jul 13/04 - SNS -- Agricultural tractors are one of the bright spots on the farm outlook sales outlook, with sales expected to increase in both Canada and the United States this year and in 2005, according to the semiannual "State of the Ag Industry" forecast of the Association of Equipment Manufacturers (AEM).

The report said U.S. sales should be up 6.2% in 2004 and 3.4% in 2005. Overall Canadian tractor business is predicted to gain 0.5% in 2004 and 4.8% in 2005.

The U.S. market for self-propelled combines is expected to increase 25.1% in 2004 but level off in 2005 with 0.2% growth expected. Canadian self- propelled combine sales are predicted to drop 5.1% in 2004 and decline 1.9% in 2005.

Sales increases are expected for all types of tractors sold in the U.S. in 2004. For 2005, the only decline expected is for 4-wheel-drive tractors, of 1.3%. In Canada, the most robust sales growth is expected for 2-wheel-drive tractors under 40 PTO Hp, 4.1% in 2004 and 6.2% in 2005.

Subscribers can read the full text of the article by Clicking here