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Tractor sales drop 12.4% y/y in August to 507 units: Saama

9 Sep 2015

Tractor sales dropped by 12.4% year on year (y/y) in August to 507 units, according to the South African Agricultural Machinery Association (Saama), but it suggested that farmers should buy current low-priced stock.

CristianFerronato via pixabay

"Despite sales for the first eight months of the year being significantly down on last year, market attitude is positive. Early general rains have helped a lot in this regard, with summer crop farmers preparing for the forthcoming season" the industry body said.

"The recent significant drop in the value of the rand is worrying as it will lead to sharp increases in equipment prices. Potential buyers would do well to bring forward their buying decisions by purchasing current lower-priced stock. This will probably lead to a short-term upturn in sales, with month-on-month tractor sales for the last four months of this year possibly matching those of last year" Saama said.

Given the 30% drop in the maize harvest compared with last year, industry expectations are now that the 2015 tractor market will be 10% down on 2014. Sales in the first eight months of 2015 were down 8.8% y/y.

Source: BDpro

Source: I-Net Bridge

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