Part 5 in the Commercial Tyre Business Agricultural Feature analyses the situation in the agricultural tractor market in the UK, as we take a look at the registrations for tractors over 50HP for the first quarter of 2021.
Growth in Agricultural Tractor Registrations Bodes Well for Agricultural Tractor Market
According to statistics available from the Agricultural Engineer’s Association, 366 tractors over 50HP were registered during Q1 of 2021 compared to Q1 in 2020, representing a 12.7% increase compared with 2020.
Every month of 2021 has shown an increase on the previous year with January and March recording an impressive 15.8% and 14.9% growth respectively. The increase in registrations for March is especially encouraging given that March is historically the peak month for tractor registrations each year.
Additionally, the registration of 2085 tractors in March 2021 was “the highest monthly total for any month since March 2012 (and the first time over 2,000 machines have been registered in a single month in that time)”, according to a statement on the AEA’s website.
With agricultural tractor registrations tracking positively and showing optimistic growth for 2021, this should spell good news for the agricultural tyre sector as well, as we look forward to the rest of 2021.