Tractor registrations are up five per cent year-on-year
Sales in both new and used tractors have soared this year, according to the latest industry figures.
Data from the Agricultural Engineers Association (AEA) showed 10,709 UK tractors were registered during the 10 months of 2023 - a rise of five per cent on last year's figures.
More than 1,000 were registered during last month alone, which is a six per cent rise on October 2022. The number of sales is the highest recorded in October since 2016 and was as much as 30 per cent above the five-year average for the time of year.
Martin Hamer, national sales manager for Fendt Ireland, UK and Netherlands, said the figures showed ‘supply had finally caught up with demand'.
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Mr Hamer said: "Since the pandemic, suppliers have been quite behind the curve, with buyers waiting anything between three to nine months for an order. What we are seeing now is suppliers catching up with that demand."
Mr Hamer also said farmers may be taking the opportunity now to invest in machinery ahead of any further challenges in the sector.
"Farmers - certainly in the arable sector, may have had a steady few months and may be taking the view that they want to get ‘tooled-up' before things get more difficult. I would say at the moment, the only thing farmers can be certain of is that there is more uncertainty to come."
According to machine, land and property auctioneers Cheffins the used tractor market is also booming with the Cambridgeshire-based company racking up sales of more than 3,500 tractors over the past year.
See also: Buyers Guide - 180-200hp tractors
Partner at the company Oliver Godfrey said sale entries had been strong for consecutive months and had moved away from the seasonal highs of previous years.
"Demand is constant and because we have a global purchaser base we have found that someone, somewhere in the world is looking to buy. Our sales have been jam-packed all year round."
Mr Godfrey said sales of vehicles were positive across the board - from those with a price tag of around £2,000 to newer models up to £60,000.
"We have in excess of 200 to 250 sales per year, depending on what is available. Demand for second-hand kit is certainly increasing because the cost of new vehicles are going up exponentially at the moment."
