Tractor sales still down across Australia despite ‘signs of improvement’: TMA

Tractor sales were down 20 per cent across WA last month as demand nationwide continues to return to pre-COVID levels. That’s according to the latest monthly report by the Tractor and Machinery Association of Australia, which revealed about 1100 tractors were sold nationwide in October. That figure was 9 per cent lower than in October 2023, while on a year-to-date basis, sales had dropped 25 per cent across Australia. Victoria bucked the trend with a 13 per cent lift in sales last month, but the figure was still 21 per cent lower year-to-date. Sales continued to soften in every other State, with WA down 13 per cent year-to-date. “Influencing factors remain unchanged from previous months,” the report said. “Dealers have an abundance of inventory, price reductions are occurring, along with reduced interest rate deals. “The only thing missing is a sense of urgency on behalf of the customer, which is not unexpected given the experiences of the past three years or so.” Tractor sales in Queensland were 12 per cent lower than in October 2023, and 22 per cent lower year-to-date, while in New South Wales ,sales were down 8 per cent in October, and 32 per cent for the year. South Australia recorded another big drop in October, with sales falling 31 per cent on both a monthly and year-to-date basis. Sales in Tasmania and the Northern Territory fell 22 per cent and 33 per cent respectively. However, there were signs of improvement, the TMA said. “This is the first month in some time that was within 10 per cent of the same month last year, buoyed by a strengthening in the larger ranges,” the report said. “The next few months will tell whether this trend is sustainable.” Sales of combine harvesters were also not keeping up with 2023 figures, down 25 per cent year-to-date. “As with tractors, the market has been well stocked over the past few years and some tapering is to be expected,” the report said.