SAAMA Press release – February 2024
Month – February |
Percentage change |
Percentage change |
||||
2024 |
2023 |
2024 |
2023 |
|||
Tractors |
516 |
777 |
-33.6% |
869 |
1 251 |
-30.5% |
Combine Harvesters |
18 |
39 |
-53.8% |
26 |
55 |
-52.7% |
February tractor sales of 516 units were significantly (almost 34%) less than the 777 units sold in February last year. Year-to-date tractor sales are now almost 31% down on last year. Eighteen combine harvesters were sold in February, 21 less than the 39 units sold in February last year. On a year-to-date basis combine harvester sales are now almost 53% down on last year.
Several factors are contributing to the downturn in the agricultural machinery market and this has resulted in potential buyers of equipment now being very cautious in their approach to investing in new equipment. The El Niño phenomenon is expressing itself again, with high summer temperatures and lower than normal rainfall. Crops planted early in the east are looking good, but summer crops in the west of the country are not fairing as well. The Crop Estimates Committee is predicting a maize crop for the forthcoming season almost 13% down on last year and soya beans almost 23% down.
Expectations are that, despite the market being very competitive, 2024 calendar year tractor sales will be between 15 and 20% % down on last year.
Tallie Giessing
Chairman: South African Agricultural Machinery Association
Contact: Tallie Giessing (082) 874-0449 or Dr. Jim Rankin (011) 453-7249