April sales of tractors in the U.S. were about 23 percent below sales in April 2008 and year-to-date sales of tractors so far this year are about 21 percent below sales levels at this time last year, according to the Association of Equipment Manufacturers.
AEM's monthly sales data show that manufacturers sold more than 18,000 farm tractors in April versus nearly 24,000 tractors sold in April of 2008.
Year-to-date figures show that total tractor sales are down by 21 percent versus year-to-date sales a year ago, AEM reported.
Agricultural equipment industry analysts said the drop in tractor sales is a sign that farmers and even farm equipment dealers are still feeling the pinch of the credit crisis.
Charlie O'Brien, vice president of agricultural services for AEM, said the future outlook of farmers has been darkened by the same fears as other consumers.
"It's hard to see what's going on with the economy as a whole and not change your world view," O'Brien said, according to Capital Press.