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August 9, 2024

Tractor Sales decline further in July

Sales of Agricultural Tractor were off again in the month of July with just over 800 units sold. This was 7% less than the same month last year and brings the year-to-date position to a level which is 28% behind the corresponding period. As we flagged last month June 2023 was the last month of the Federal Government’s Temporary Full Expensing Program which saw last minute sales at unprecedented levels.  We now have the basis for a more realistic comparison which shows ongoing softness in the sales picture with expectations of a full year which will be less than 12,000 units.

Looking at the state-by-state picture, Queensland enjoyed a solid month, up 8% against the same month last year to be 23% behind year to date, and Victoria was also up, this month by 13% to be 25% below last year. NSW was down 29% and remains 37% behind for the year while Western Australia reported a small rise of 3% to be down 15% compared with the same time last year. South Australia had another big drop of 26%, now down 32% YTD, Tasmania was off 4% for the month with sales in the NT finishing 40% down.

Sales in each of the reporting categories were well off this month except for the small under 40 hp (30kw) category which was up by 22% to be 22% behind year to date. The 40 to 100hp (30-75kw) range was down again, this time by 24% and is now behind 39% year to date. The 100 to 200hp (75-150 kw) category was down 6% to be 28% off for the year and finally, the 200 hp (150kw) PLUS range was 11% down compared to the same month last year and is now 16% behind year to date.

Sales of Combine Harvesters are off to a slow start and remain 48% behind the same time last year. Baler sales enjoyed a small bounce, up 17% for the month but remain 17% behind year to date. Finally, sales of Out – Front Mowers were again up this time by around 5% in the month.

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