June tractor sales of 414 units were significantly (11%) more than the 373 units sold in June last year. On a year-to-date basis, tractor sales are now 6% down on the same period last year.
The 17 combine harvesters sold in June were three units less than the 20 units sold in June last year. On a year-to-date basis, combine harvester sales are 5% up on the same period last year.
Market conditions remain stable
Market conditions are still quite similar to what they were last month. Farmers are buying up existing stock at current price levels, ahead of the inevitable price increases that will prevail due to the weaker rand. Secondly, good crops are currently being harvested.
Overall sentiment in the market continues to be positive. It is likely that sales will continue to be good in the short term as lower-priced stock is bought up. However, current industry sentiment is still that 2020 tractor sales will probably be up to 10% down on last year. – Press release, South African Agricultural Machinery Association