November was another difficult month for Sales of Agricultural Tractors as dealers continue to report depressed demand across the nation. With just under 1,000 tractors sold, which is 20% below the same time last year and just on 10,000 delivered YTD, 2024 is now 24% below the same time last year. This should put full year sales at or below 11,000 tractors which will be the lowest level since 2019.
November saw the release of the TMA Quarterly Business Sentiment survey, delivered by Kynetec with over 120 dealers from across the nation responding.
Key findings include:
- Further reductions in satisfaction with turnover
- Slight Increase in expectation of new tractor sales
- Expectations for Combine sales remain unchanged
- Expectations for Balers and Hay Tool sales decreasing
- Reduction in Inventory levels
One hopes that the glimmer of hope for tractor sales, combined with ongoing inventory reductions will lead to improved sales in 2025. You can read the full report on the TMA website www.tma.asn.au
Looking at the state-by-state picture all states were down except for Western Australia which saw a rise of 14% against the same month last year but remains 11% behind year to date. Queensland was behind by 13% against the same month last year to be 21% behind year to date, NSW was down 22% and remains 31% behind for the year while Victoria reported a drop of 12% to be down 20% compared with the same time last year. South Australia had another big decline, off a whopping 64%, now down 35% YTD, Tasmania was off 72% for the month with sales in the NT finishing 80% up.
Sales in each of the reporting categories were off this month. The small under 40 hp (30kw) category was down by 2% to be 20% behind year to date. The 40 to 100hp (30-75kw) range was down, this time by 14% and is now behind 33% year to date and the 100 to 200hp (75-150 kw) category reported a drop of 26% for the month and remains 23% down YTD. Finally, the 200 hp (150kw) PLUS range was 40% down compared to the same month last year and is now 15% behind year to date.
Sales of Combine Harvesters are not keeping up with last year and currently sit 27% behind on a year-to-date basis, a significant pull back. Baler sales were steady in the month and are just on 8% behind year to date. Finally, sales of Out – Front Mowers were up 12% in the month in time for mowing season.
SAVE THE DATE The TMA is pleased to announce that the 2025 Conference is to be held once again in Melbourne on Thursday July 24th where we will be returning to the Hyatt Essendon Fields.
Keep an eye out for further details in the new year.
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