Given the series of weather events across the Eastern states, combined with several public holidays in the month, sales of Agricultural tractors were again strong in September and where in line with the same month last year.
This result puts us 2.1% up on the 2022 year to date and has us set for what will most likely be another record year in sales due to the ongoing strength of the Agricultural sector, combined with the Temporary Full Expensing program. On this subject we continue to lobby government to consider extending this program beyond the current end date of June 2023. There is a concern that an abrupt end to this program could be damaging to the industry at a time of rising interest rates and a possible recession.
Looking at sales across the nation, results were reasonably strong across the board, NSW up 1% to be now 1% behind last year. Queensland was up 11% to remain 13% ahead year to date and Victoria was down 9% on last September, offsetting last month’s 24% rise, and is now up 1% on last year.
Sales in Western Australia continue to power ahead, up 10% for the month and now ahead 2% YTD, South Australia were up 6% for the month. Tasmania was down by 31% whilst sales into the Northern Territory were down by 60% following last month’s mammoth 89% rise.
Sales of smaller tractor this month were down a touch, offset be a strong month for larger tractors. The small under 40 hp (30kw) category was down 7% to be still 9% ahead YTD. The 40 to 100hp (30-75kw) range was also down 4% in the month to remain 3% ahead YTD and the 100 to 200hp (75-150 kw) category was up again, 1% ahead in September to be 3% behind YTD.
The large 200 hp (150kw) PLUS range was the standout again this month, 18% ahead of the same month last year and is now 1% up YTD.
So, in summary, whilst unit numbers were broadly in line with the same month last year, in dollar terms this September was up 13% on last September due to the impact of the larger machine sales.
Reports of this year’s harvest appear to be indicating a record level for many regions, notwithstanding the weather events rolling through the nation and this is being reflected in Combine Harvester sales.
On a Year-to-Date basis, harvesters are 5% up on last year and there remains and expectation of another 1,000+ unit year.
Baler sales have again dipped in the month and are now down 28% compared with last year and sales of Out – Front Mowers finished down again by 20%.
Predictions of when this current boom in sales might end are difficult to make at present. Our recent Dealer Business Sentiment Survey conducted in August revealed expectations from dealers of a continuation of strong demand, however some observers have begun to sense a slight slowdown in the ordering process. Only time will tell…