August 2024: TRACTOR and COMBINE HARVESTER SALES
Retail sales of agricultural equipment during August 2024 were as follows:
Month: August | Percentage Change: | Year-to-date: August | Percentage Change: | |||
2024 | 2023 | 2024 | 2023 | |||
Tractors | 574 | 697 | -17.6 | 4 073 | 5 412 | -24.7 |
Combine Harvesters | 5 | 24 | -79.2 | 137 | 383 | -64.2 |
August 2023: TRACTOR and COMBINE HARVESTER SALES
Retail sales of agricultural equipment during August 2024 were as follows:
August tractor sales of 574 units were approximately 18% less than the 697 units sold in August last year. Year-to-date tractor sales are now approximately 25% down on last year. Five combine harvesters were sold in August, 19 less than the 24 units sold in August last year. On a year-to-date basis, combine harvester sales are now 64% down on last year.
As the year unfolds, several different factors are affecting buying decisions in the market. As predicted, the overall market is now moving to a more realistic level, after three years where annual tractor sales were over 7 500 units. Market sentiment, whilst it is optimistic, it is also showing a strong degree of caution. Weighted against this is a short-term situation where conditions will be highly competitive in terms of pricing and availability of stock. Current industry expectations are that tractor sales will be between 20 and 25% down on last year.
Willie Human
Chairman: South African Agricultural Machinery Association
Contact: Willie Human (083) 954-7232 or Dr. Jim Rankin (011) 453-7249