Tractor Sales in Australia Reach Record High in June

Tractor

Sales of farming tractors in Australia reached a record high in June, as it rose 35 per cent from May, according to the Tractor & Machinery Association of Australia (TMA).

The positive sales figures bode well for the overall agricultural equipment industry in the country, from V hay rakes for sale to harrows and crop commanders.

More Sales

Tractor sales for all four ranges, comprising the 0-40hp, 40-100hp, 100-200hp and 200hp+ variants, increase 6 per cent in June year over year. Part of the reason for the up-tick involved an abundant rainfall during the month, particularly benefiting sales of agricultural machinery in Australia’s east coast.

Government incentives also drove customers to buy more tractors to take advantage of deals at the end of the current financial year. The numbers indicated positive growth nationwide, except for Western Australia where a dry winter caused a decline on sales. Sales in Queensland surged 40 per cent in June year over year, whilst Victoria recorded a 30 per cent jump in the same period. South Australia and Tasmania likewise reported a 12 per cent and an estimated 20 per cent growth, respectively.

Analyst Insights

Industry analyst Alan Kirsten said that tractor sales in the country rose in June due to the ongoing availability of affordable financing for purchases. Finance rates, which reach almost 0 per cent, could result to more than 13,000 tractor sales by the end of 2017, according to Kirsten. Despite some seasonal concerns in Western Australia, industry experts believe that the market still performed well during the month.

When buying tractors and other agricultural equipment, you should take the time to consider the best type of machine that suits your needs. However, it should not take you long to decide since different financing options remain available.