August 2024: TRACTOR and COMBINE HARVESTER SALES

 

Retail sales of agricultural equipment during August 2024 were as follows:

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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