'RELATIVELY SLOW START TO THE YEAR'

For tractor sales

Friday, 15 March 2024

According to figures released by the AEA, the relatively slow start to the year for agricultural tractor registrations continued in February.

Agricultural economist at the Association, Stephen Howarth, said, "While the monthly total of 477 machines was only 10 fewer than in the same month last year, it was 16% below the average for the time of year in the previous five years. That was a similar shortfall, compared with the seasonal norm, to that seen in January, although the year-on-year decline was much smaller than during that month."

The total for the opening two months of the year was the lowest since 2001, but Stephen points out these are traditionally quiet months for the tractor market.

"We will know more about the state of the market once figures for March, typically the peak month each year, are available," he said.