Tractor Registrations Improve in August
The latest tractor registrations figures issued by FTMTA cover the first eight months of the year and show a big improvement in the tractor market during that month. There were 129 new units registered during August which is a 46% increase of the 88 units registered during the same month in 2016. A total of 1,535 units have been registered during the period under review which is an 8% reduction on the 1,666 units registered in same period of 2016.
FTMTA sees the August registrations as encouraging and a strong indicator of renewed customer confidence. In January new registrations were 15% down on January 2016 but this situation has improved as the year progresses. FTMTA Chief Executive, Gary Ryan highlights the closing of this gap to 8% as the year moves on “as a sign of a recovering market driven in large part by an improvement in dairy pricing”. The FTMTA Chief Executive believes that the improving registrations position points to ongoing confidence delivering a stronger new tractor market into 2018. Cork, Tipperary and Wexford have been the three counties with the highest levels of new tractors registrations during 2017 with 185, 135 and 97 units respectively registered thus far.
Perhaps unsurprisingly, given the evidence of a recovering construction sector, registrations of both backhoe loaders and wheeled loaders have seen strong growth during 2017, There have been 44 backhoe loaders registered during the first eight months of the year which is an increase of one third on the corresponding period of last year. Likewise, registrations of wheeled loaders at 71 units for the year so far are up by in excess of 30% on the same time in 2016.
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