Falling Used Compact Tractor Market1/11/2023
According to the Association of Equipment Manufacturers, new compact tractor sales fell 25.7% this December compared to the same month last year. This downward turn in the compact market is something we’ve been talking about since the pandemic-induced buying binge. The work-at-home-driven demand and OEMs’s ability to quickly ramp up production has built a surplus supply of these handy little buggers.
Is this recent and significant drop in sales a direct result of the oversupply and something that could have been predicted? What about the effect on current used prices? Let’s take a look using Iron Comps’ new Market Trends tool.