Kubota US Tractor Sales Analysis

May 2026 AEM data indicates broad-based weakness in US tractor sales, with both compact and mid-sized segment growth contracting significantly. Goldman Sachs analysts view these trends as evidence of deteriorating business sentiment.

Key Takeaways

• 1.US tractor retail sales data for May 2026 show continued negative growth for the eighth consecutive month.
• 2.Compact tractor retail sales volumes are at the lowest level for any May since 2012.
• 3.Mid-sized tractor sales fell below 4,000 units, the lowest since records began in 2003.

Table of Contents

• Compact tractors (<40 HP): Retail sales of 11,415 units (-25% yoy/-16% mom), inventory turnover of 6.4 months
• Mid-sized tractors (40-100 HP): Retail sales of 3,986 units (-15% yoy/-10% mom), inventory turnover of 5.7 months
• Large tractors (100+ HP): Retail sales of 1,270 units (-10% yoy/-27% mom), inventory turnover of 4.8 months
• Price Target Risks and Methodology - Kubota
• Disclosure Appendix