The number of agricultural tractors being registered has been fairly stable in recent years but is lower than historically, mainly due to the larger size of modern machines.
Registrations of Agricultural Tractors drop in August after a Year of slight Recovery
Registrations of agricultural tractors over 50 hp experienced a drop in the month of August. With 714 units sold, August saw a drop of 14.4%, if we compare it to the figures registered last year.
According to the AEA, tractor registrations in 2022 were 4% lower than in 2021 but were close to the average size of the market in the previous five years. A small rise in the average power of machines registered during 2022 meant the total power of those tractors was only slightly lower than in 2021.
Global supply chain disruptions continued to affect the agricultural machinery industry in 2022, for the third year in a row. These were primarily a knock-on effect of the Covid-19 pandemic but the war in Ukraine added to them in the latest year. As a result registrations may not accurately reflect the underlying demand in the market. The number of machines reported in the second half of 2022 was almost unchanged from a year earlier, with some year-on-year growth in the final quarter of the year.