New tractor registrations are down, but by how much?
The pronounced slowdown in registrations of new tractors (in the Republic of Ireland) evident during August deepened during September. That’s according to the Farm Tractor & Machinery Trade Association (FTMTA).Also Read: New tractor sales show a sharp drop
FTMTA data shows that 63 new tractors were registered during September. That represents a 38% decline, when compared with the same month of last year (2018).
A total of 1,830 new tractors were registered during the first three-quarters (nine months) of this year. That, it should be noted, is still marginally ahead of the corresponding figure for 2018.
As recently as the end of July, new tractor registrations were actually up by 5% – on a year-on-year basis.
The association’s chief executive – Gary Ryan (pictured below) – explained: “It seems likely that uncertainty is feeding into a lack of buyer confidence, as we approach the Brexit deadline at the end of October.
“In light of the potential ramifications for Irish agriculture, this is being manifested in somewhat of a curtailment in activity in the market.
The prospect of a total [new] tractor market exceeding 2,000 units for the first time since 2008, while still possible, looks more remote than even one month ago.
The three counties with the highest levels of registrations continue to be Cork (239 units), Tipperary (176 units) and Wexford (128 units) – looking at data from January to September (inclusive).
Galway has now broken into the three-figure domain – with 105 new tractors registered. It’s worth noting that six new tractors were registered in Galway last month – the same tally as that seen in Laois and Wexford.