April tractor sales down by 4%
April tractor sales of 416 units were marginally (4%) fewer than the 432 units sold in April last year. On a year-to-date basis, tractor sales are now 14% down on the same period of last year.
Combine harvester sales of 20 units during April were three units fewer than the 23 units sold in April last year. On a year-to-date basis, combine harvester sales are now almost 8% up on the same period of last year.
Food production continues unabated
While there is a lot of negativity in the country, primarily spawned by reactions to restrictions imposed by the government in an attempt to reduce the spread of the coronavirus, food production – which is an absolutely essential service – continues almost unabated. Good summer crops stand on the land and the rand weakness has held up commodity prices. The overall sentiment in the market is positive.
However, prices of imported agricultural machinery will soon have to be increased significantly, in reaction to the weak rand. Sales in the short term is expected to be good until stocks of lower-priced equipment have been exhausted. Current industry sentiment is that 2020 tractor sales will likely be approximately 10% down on last year. – SAAMA
Click here to view the tractor sales for March 2020.