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U.S. retail sales of farm tractors and self-propelled combines are expected to grow in 2003, according to a report by the Association of Equipment Manufacturers (AEM). The report also announced a mixed outlook for farm field and farmstead-type equipment.
Total retail sales of farm tractors closed out 2002 with a slight gain of 0.8% compared to the previous year. Manufacturers anticipate total sales to grow by 0.4% for 2003. The strongest growth is anticipated for 4WD tractors. After a decline of 21.7% in 2002, a rebound of 7.6% is expected for 2003. In the 100+ pto-hp category, growth is expected at 5.7% following a drop in 2002 sales of 18.6%.
