US farm tractor sales drop 20% YoY in October

Tractor and combine sales in both the United States and Canada suffered notable declines again during October as the pricing, uncertainty and volatility challenges of 2025 continued to put pressure on the market. 

The decline follows a slight jump in both Canadian and U.S. sales in September — the first uptick in 13 months. 

Due in part to the sustained downturn, OEM and lender CNH Industrial expects global ag and construction equipment demand to decline, revising its full-year industry net sales projection to fall 10% to 12%, to reflect the added tariff impact, Chief Executive Gerrit Marx said during the company’s Nov. 7 earnings call. CNH had been expecting industry net sales to decline between 11% and 19% for 2025, so the last few months have helped narrow the guidance gap. 

“While we are dealing with a rapidly changing trade environment, we are working very closely with our network partners and suppliers to ensure that we are responsive to ongoing shifts in the market,” he said. “We are taking orders for model year 2026 products now at new prices, reflecting another round of cost recovery.” 

This comes as capital expenditures by farmers also remain a concern, Joe Mahon, regional outreach director of the Federal Reserve Bank of Minneapolis, said during a Nov. 14 webinar. 

Capital expenditures “were also down quite a bit, and this is a sort of a recent change from trend,” he said. “That’s noteworthy, just because, even over the last few years, as we’ve seen falling incomes and falling capital spending, the consumer spending by farm households has continued to stay pretty strong.” 

U.S tractor, combine sales drop 

U.S. farm tractor and combine sales dropped in October, according to the Association of Equipment Manufacturers‘ October 2025 United States Ag Tractor and Combine Report. 

• October two-wheel drive (2WD) under 40 horsepower (HP) tractor sales were 9,585 units, down 22% YoY; 

• Year-to-date (YTD) 2WD under 40 HP tractor sales totaled 109,336 units, down 7.8% YoY; 

• October 2WD 40–100 HP tractor sales reached 5,237 units, down 10.9% YoY; 

• YTD 2WD 40–100 HP tractor sales landed at 44,925 units, down 3.8% YoY; 

• October 2WD 100+ HP tractor sales were 2,120 units, down 17.3% YoY; 

• YTD 2WD 100+ HP tractor sales totaled 15,203 units, down 23.8% YoY; 

• October 2WD tractor sales reached 16,942 units, down 18.3% YoY; 

• YTD 2WD tractor sales were 169,464 units, down 8.5% YoY; 

• October four-wheel drive (4WD) tractor sales landed at 316 units, down 56.3% YoY; 

• YTD 4WD tractor sales reached 2,216 units, down 42.2% YoY; 

• October total tractor sales (2WD and 4WD) were 17,258 units, down 19.6% YoY; 

• YTD total tractor sales landed at 171,680 units, down 9.2% YoY; 

• October self-propelled combine sales totaled 376 units, down 26.8% YoY; and 

• YTD self-propelled combine sales were 3,063 units, down 38.4% YoY. 

Canadian farm equipment performance falls 

Meanwhile, Canadian farm tractor and combine sales also declined in October, according to AEM’s October 2025 Canada Ag Tractor and Combine report released Nov. 17. 

• October 2WD under 40 HP tractor sales were 1,369 units, down 13.3% YoY; 

• YTD 2WD under 40 HP tractor sales totaled 11,780 units, up 3.0% YoY; 

• October 2WD 40–100 HP tractor sales reached 1,125 units, up 4.9% YoY; 

• YTD 2WD 40–100 HP tractor sales landed at 4,248 units, up 4.9% YoY; 

• October 2WD 100+ HP tractor sales were 403 units, down 19.2% YoY; 

• YTD 2WD 100+ HP tractor sales totaled 2,587 units, down 12.3% YoY; 

• October 2WD tractor sales reached 2,897 units, down 8.0% YoY; 

• YTD 2WD tractor sales were 18,615 units, up 1% YoY; 

• October 4WD tractor sales landed at 74 units, down 65.1% YoY; 

• YTD 4WD tractor sales reached 759 units, down 20.2% YoY; 

• October total tractor sales (2WD and 4WD) were 2,971 units, down 11.6% YoY; 

• YTD total tractor sales landed at 19,374 units, down 0.1% YoY; 

• October self-propelled combine sales totaled 238 units, down 17.6% YoY; and 

• YTD self-propelled combine sales were 1,644 units, up 1% YoY. 

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