New Tractor Sales Are Declining

[Tinhack]

CDs? I haven’t heard of those since the 90s.

Yeah, that's Certificates of Deposit not Compact Disks. Although I do still have those too.

 

[rScotty]

I'm thinking that recessions are turned around by people fixing up old things and generally taking the effort to do things for themselves so that they spend less money instead of more.

This spring a neighbor who is always complaining about politics, groceries, gas, and prices hired a company to build him a shed and paint his deck while he watched from a lawn chair. My friend's 12 year old summed it up pretty well when she said, "That's weird."

Yep, sure is.
rScotty

 

[Muhammad]

Under 40 hp tractor sales down 14% vs March 2023, all ag tractors down 12% and YTD down 15% according to AEM.

$100k trucks? $8/lb for chicken? There are always ways to make more prudent financial choices. If you can't afford to keep up with inflation, you have to modify your habits.

I can buy chicken in bulk at Costco business center for under $2/lb vs $5-$6/lb at most grocery stores.

I can keep my old car on the road for $1500/year in maintenance vs buying a new one for $8000/year in payments.

That top 15% of tractor sales may be the "discretionary" ...

We will also see the "value" option tractors get more looks when the fists grip the cash a little tighter.

 

[2manyrocks]

I'm thinking that recessions are turned around by people fixing up old things and generally taking the effort to do things for themselves so that they spend less money instead of more.

This spring a neighbor who is always complaining about politics, groceries, gas, and prices hired a company to build him a shed and paint his deck while he watched from a lawn chair. My friend's 12 year old summed it up pretty well when she said, "That's weird."

Yep, sure is.
rScotty

All about personal convenience. Just like the home improvement shows where the hosts ask: how much is your budget? answer: $200,000. Magically, all of the $200,000 gets spent on making things pretty. The homeowners don't do any of the work. The hosts only do a little for show. Most of the work gets done by contractors behind the scenes.

 

[lman]

Under 40 hp tractor sales down 14% vs March 2023, all ag tractors down 12% and YTD down 15% according to AEM.

$100k trucks? $8/lb for chicken? There are always ways to make more prudent financial choices. If you can't afford to keep up with inflation, you have to modify your habits.

I can buy chicken in bulk at Costco business center for under $2/lb vs $5-$6/lb at most grocery stores.

I can keep my old car on the road for $1500/year in maintenance vs buying a new one for $8000/year in payments.

That top 15% of tractor sales may be the "discretionary" ...

We will also see the "value" option tractors get more looks when the fists grip the cash a little tighter.

You're shopping at the wrong grocery store.

 

[5030]

Under 40 hp tractor sales down 14% vs March 2023, all ag tractors down 12% and YTD down 15% according to AEM.

$100k trucks? $8/lb for chicken? There are always ways to make more prudent financial choices. If you can't afford to keep up with inflation, you have to modify your habits.

I can buy chicken in bulk at Costco business center for under $2/lb vs $5-$6/lb at most grocery stores.

I can keep my old car on the road for $1500/year in maintenance vs buying a new one for $8000/year in payments.

That top 15% of tractor sales may be the "discretionary" ...

We will also see the "value" option tractors get more looks when the fists grip the cash a little tighter.

Got you beat on the chicken and we have found out that not all chicken is created equal either. It depends on what they are fed how the end product tastes. The local Meijer's store has bland tasting chicken whereas Kroger chicken has a good flavor to the meat.

Far as vehicles go, we will never have a vehicle payment, like you we maintain our vehicles. Not about to pay 100K for any vehicle, not even 50K, not even 20K. Not worth it, besides we don't want to pay a finance charge.

We like not being on the hook for anything, farm is paid for as is 90% of the equipment. Rentals are very close to being paid off too and the interest rate is low (and a write off anyway).

 

[5030]

Just another reason why I'd NEVER buy a Tesla because I'd have to finance one and I don't do finance at all. I always wonder who in their right mind would pay 100 grand for a pickup truck that in reality is worth about 5 grand. Don't compute with me at all.

 

[TN8Man]

A $4.99 for a whole rotisserie chicken at Sam's club is 4 nights of meals for two people.

Today's Bank news: Shares in two regional US banks have been paused amid fresh concerns about the health of the financial sector in the wake of the rescue of First Republic.

PacWest Bancorp and Western Alliance Bancorp halted trading in their equities today after suffering share price falls of 24pc and 20pc respectively.

I'm thinking bank runs could breakout across the nation if this keeps up.

 

[Hay Dude]

A $4.99 for a whole rotisserie chicken at Sam's club is 4 nights of meals for two people.

Today's Bank news: Shares in two regional US banks have been paused amid fresh concerns about the health of the financial sector in the wake of the rescue of First Republic.

PacWest Bancorp and Western Alliance Bancorp halted trading in their equities today after suffering share price falls of 24pc and 20pc respectively.

I'm thinking bank runs could breakout across the nation if this keeps up.

IF it even gets reported. They are very careful who gets made to look bad.

 

[jyoutz]

Been increasing lately. Far as CD's go, Certificate of Deposit, not platters...lol

I know, but just haven’t heard of people doing certificates of deposit anymore.