Growing farmer confidence sees tractor sales surge

UK tractor registrations for May 2021 were up almost 75% on the same month a year ago, when the market struggled amid the first Covid-19 lockdown.

Figures published by the Agricultural Engineers Association (AEA) for last month showed 1,103 tractors were sold – up 74.8% on May 2020.

The sales bring the year-to-date total up to 5,371 units, which is 21.2% higher than registrations in the January-May period of 2020.       

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AEA economist Stephen Howarth said it was no surprise to see the year-on-year jump because figures contrasted with a difficult month under the first Covid-19 restrictions.

However, May registrations were also up 10% on the five-year average, while the year-to-date running total was 7% up on the five-year figure.

Mr Howarth suggested this was due, only in part, to farmers who had made purchases this year that were put off 12 months ago.

The increase was also down to growing confidence among farmers, who had faced uncertainty in the years up to the UK’s departure from Europe, Mr Howarth suggested.

Further confidence had been gained this year as prices for some arable and livestock products had pushed up revenues, he added.