Mixed bag for global tractor markets

Sales of new tractors were in the plus in the US and Europe last year, but were down in India and China.

by Steven Vale

11 Feb 2020

According to FederUnacoma, the Italian machinery manufacturers association, the number of new tractors registered in the US last year increased by 3.6% to 245,000 units.

Europe closed the year at 178,000 units; an 8.0% increase on 2018 levels. The highest European growth was recorded in France where the numbers were up by 16% to 34,600 units. There was a 4.8% increase in Germany (29,000 units). Other buoyant markets were the UK (+5.4%) and Spain (+6.8%). The Russian market increased by 15% to around 25,000 units.

India remains the world’s largest market in terms of volumes, but saw the number of new units registered fall by 10% last year to 723,000.

The Italian organisation reckons that the situation is more critical in China where the overall slowdown in the agricultural economy and the reduction of subsidies for the purchase of agricultural machinery, was largely responsible for the estimated 20% decline in the numbers.