Tractor registrations showed a marked decrease in March with 13% fewer tractors being registered this year than in the corresponding month of 2023.
The actual number being sold according to the FTMTA amounted to 216 units, down from 247 in march last year.
The year-to-date figures are 8% lower than the same period in 2023, with 878 new tractors registered in the Republic of Ireland in March 2023, compared to 959 units in 2023.
Co. Cork tops the league
Co. Cork continues to deliver the highest number of new tractor registrations at 129 units for the year-to-date, while Co. Tipperary is ranked in second place with 81 units, followed by Co. Meath at 50 units.
This is only to be expected, as Co. Cork is the largest county and the tractor density, expressed as km2/new tractor is 58.
The figure for Co. Tipperary, the sixth largest count is 53km2/tractor, while Co. Meath comes in at 47.
When looked at on this basis, it is Co. Meath that tops the three counties in activity, while Co. Tipperary outperforms Co. Cork.
However, even this picture may not reflect the true activity as much as km2/horsepower, but drilling down to that depth is not possible with the information that is presented to the public.
Tractor power heads upwards
The most popular power band has moved to the 161 to 200hp category, which for March 2024 accounted for 22% of all new tractor registrations.
Tractors in the power band lower than 100hp now account for 11% of all new tractor registrations, slightly higher than for the same month in 2023. The over 200hp category now accounts for 12% of all new tractors.
The market for smaller tractors maintaining its level is in stark contrast to recent experience in America where sales of smaller compact units has suffered a sharp downturn.
The monthly average tractor horsepower figure for March 2024 was 145hp.
Used imports down
The FTMTA also noted that 245 imported used tractors were registered in Ireland in March 2024, 59 units less than in February 2023. For the year to date, 672 used tractors were imported and registered for the first time, a steep decline of 19%.
Although these figures are not as great as many in the trade would like, most dealers are philosophical about the situation, noting that they have had several good years in a row so some downturn was only to be expected.
It is also felt that the bad weather has held up many purchasing decisions, and of those that were made the incentive is often to reduce the tax bill rather, than push forward with fleet renewal.
Loaders
Although the market for new telescopic loaders reported a marginal decline in March 2024 at 57 units it must be noted that these will include those used in construction as well as agriculture. Overall, the year-to-date market shows a 3.7% increase in registrations.
Wheeled loaders recorded a lower number of new registrations in March 2024 at 16 units, with the year to date figure dropping by almost a third.