Tractor Market Recovery Continues
The latest tractor registration figures prepared by FTMTA show a continuing steady improvement in the state of the new tractor market during the year. October saw 90 new tractors registered which was a considerable increase on the 64 units in the same month of last year. The total registrations for the year to the end of October now stand at 1,714 new tractors and, while this is some 6% less than at the same point last year, the year on year drop is now the smallest that it has been all year. The recovery as the year progressed is especially notable when the current 6% drop is set against the 19% year on year decrease at the end of February. The counties with the highest levels of new registrations during the first ten months of the year are Cork with 193 units, Tipperary with 147 units and Galway is tied with Wexford at 105 units each. A resurgent dairy sector seems most likely to account for the improvement in the market as the year went on and it is expected that this positive impact will continue into next year.
Registrations of telehandlers, wheeled loaders and backhoe loaders have all enjoyed reasonably good years and continued that performance with a strong October. There have been 280 new telehandlers registered during the first ten months which is slightly less than 4% down on the same point in 2017. The level of registrations of wheeled loaders stands at 79 units versus 72 in all of last year while 51 backhoe loaders have been registered against 40 units in all of 2017. Obviously the much increased level of construction activity across the country is the primary driver of increased sales of these categories of machines but an element of the telehandlers and wheeled loaders totals would have gone into agricultural uses with farmers and contractors.
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