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December 12, 2022

2022 Finishing strongly for Tractor Sales

Tractor sales were again strong across the nation as the industry is now in full swing for this year’s harvest. The recent rainfall activity across much of Eastern Australia has presented many challenges for farmers, however the overall picture remains healthy for machinery dealers.

Sales in the month were up 4.7% on the same month last year and this now puts us 2.5% up on the 2022 year to date. The scene is now set for another 19,000-tractor sales year which is the second in a row representing the strongest run for the industry since the 1980’s. This number of sales represents total volumes in excess of $2 billion which is again a high water mark for the industry.

With another seven (7) months to go for the Temporary Full Expensing program, dealers continue to report high demand for machines both new and used, however rising interest rates combined with recent price increases is ensuring that there remains a note of caution in the market regarding the medium term outlook.

Whilst supply chain challenges remain, particularly with European suppliers battling energy shortages, there are signs that shipping times are improving so one is hopeful of a return to better conditions for our suppliers.

Looking at the figures in detail, all states except for South Australia recorded rises for the month. Queensland continued its recent strong run with a 12% rise to be 14% up for the year, NSW enjoyed a healthy lift of 5% on the same month last year to now be in line and Victoria recorded a modest rise of 1.5% to also be in line with last years.

Sales in Western Australia were again strong, up 8% and now 2.4% up YTD and South Australia recorded a 15% decline to be 3% off for the full year. Tasmania enjoyed a rise of 14% for the month and sales in the NT now sit 11% ahead of 2021

The biggest rise in machine category sales this month was in the small under 40 hp (30kw) category, which was up 23% to be still 10% ahead YTD. The 40 to 100hp (30-75kw) range was up 1% in the month to remain 2% ahead YTD and the 100 to 200hp (75-150 kw) category was again down, this time by 7% in November to be 3% behind YTD.

Sales in the large 200 hp (150kw) PLUS range were again strong this month, 4% ahead of the same month last year and is now 4% up YTD.   

Combine Harvester sales are now occurring in large numbers across the nation, up 20% on the same month last year and are now ahead of the 1,000-unit mark for the full year.

Challenges in the hay market continue and this is reflected in another subdued result, down 33% on November last year to remain 33% behind Year to date.

Finally, sales of Out – Front Mowers have enjoyed a lift in the month, up 4% but remaining behind full year by 21%.