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March 8, 2024

Large Tractor Sales Continue to dominate

There were approximately 800 tractors sold across the nation in February which was 18% less than the same month last year. This continues the trend of recent months as activity returns to more normal levels after the hectic years of 2021/22. Of interest is the ongoing boost in sales for large horsepower tractors which has pushed the Retail Turnover($$) to a level which is now 50% ahead of the same time last year.

Sales of the 200 hp (150kw) PLUS range were again up, this time by an incredible 130% on the same month last year bringing the year-to-date figure to a level 140% ahead on a year-to-date basis. The small under 40 hp (30kw) category was down by 40% for the month to be 38% behind year to date and the 40 to 100hp (30-75kw) range was also down 31% and is now behind 31% year to date. Lastly, the 100 to 200hp (75-150 kw) category was down 29% to be 23% off for the year.

Looking at the state-by-state picture, Western Australia reported another lift in February of 3% to be 12% up on the same time last year. Queensland was down 10% against the same month last year to be 12% behind year to date, NSW was down 19% and is now 25% behind for the year and Victoria was off 31% to be 22% below last year. South Australia was down 32%, down 16% YTD, Tasmania was off 16% for the month with sales in the NT finishing 10% down.

Sales of Combine Harvesters are yet to materialise, and Baler sales finished in line with the same month last year and are now 20% up year to date. Finally, sales of Out – Front Mowers were again up this time by around 54% in the month.

The TMA Dealer Business Sentiment Survey has just been completed and the results will shortly be published on the TMA website. With well over 100 responses received from around the country, the mood of dealers is certainly more subdued than what it was 12 months ago.

Overall satisfaction levels are down although there has been a slight uptick in expectations for improved tractor and combine sales whilst high levels of inventory for both new and used machines are being reported.  Interestingly dealers are still forecasting an increase in workforce numbers going forward which is perhaps a reflection on how stretched the industry has been over the past few years.

The full report can be viewed in the TMA website

TMA Conference

This year’s TMA Conference scheduled to be held on Thursday July 18th to be held in Melbourne at the iconic MCG, a venue we last visited in 2017. Details regarding the event will be announced during the next few months with ticket sales likely to commence in April. This promises to be another great event, so please, SAVE THE DATE.