Following two years of strong growth, the Australian tractor market was down 18% in the first six months of this year.
New tractor sales increased 3.0% to a record 19,000 units in Australia in 2022, the second consecutive year of strong growth. The Tractor and Machinery Association of Australia (TMA) reckons that the nationwide drop recorded in the first half of this year is due to farmers reconsidering purchasing priorities in the face of higher machinery prices, increased interest rates and expectations of a drier summer.
There was a significant decline in tractor sales across all power categories. The 40-100hp market fell 19%, the 100-200hp bracket was down by a fifth and the numbers of 200hp+ tractors dropped by 10%.
While tractor sales are under pressure in Australia, 75% more new combine harvesters were sold in the first half of this year. The TMA expects an ‘outstanding year ahead.’ The 1,145 new combines sold in Australia last year was up 6.0% on 2021. Source: TMA