SAAMA Press release – June 2024
Month – June |
Percentage change |
Year-to-date |
Percentage change |
|||
2024 |
2023 |
2024 |
2023 |
|||
Tractors |
487 |
930 |
-47.6 |
2 936 |
4 055 |
-27.6 |
Combine Harvesters |
21 |
64 |
-67.2 |
124 |
327 |
-62.1 |
June tractor sales of 487 units were approximately 48% less than the 930 units sold in June last year. Year-to-date tractor sales are now almost 28% down on last year. Twenty-one combine harvesters were sold in June, 43 less than the 64 units sold in June last year. On a year-to-date basis, combine harvester sales are now 62% down on last year.
It was inevitable, after several years of excellent agricultural machinery sales, that the market would turn down. The industry has, however, been surprised at the speed with which it has turned down. Nevertheless, we face a market where a lot of older machinery has been replaced and markets will soon revert back to a degree of normality. Overall sentiment in the market is still positive and it is expected that the market will stabilize itself, although at a lower level.
Industry expectations for the 2024 calendar year are that tractor sales will be between 20 and 25% 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