Tractor market in Europe closes at -11.4% in the first seven months of 2024
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Tractor market in Europe closes at -11.4% in the first seven months of 2024 FederUnacoma announced this during the press conference for Eima.
In Italy the sales trend is still negative. And even overseas things are no better.
CEMA's usual September report casts long shadows on the tractor market in Europe.
The latest periodic surveys of the acronym which brings together the national associations of EU agricultural machinery manufacturers, have in fact photographed a decline of 11.4% in the first seven months of 2024 compared to the same period of 2023.
The data were presented by FederUnacoma in during the EIMA International 2024 press conference, held at the ICE headquarters in Rome. Based on what was indicated in the months considered, sales of agricultural tractors exceeded 125 thousand units, with a diversified trend depending on the power classes. In fact, it was above all those above 37 kW that were penalized, which left 9% on the ground (at the rate of approximately 114 thousand vehicles sold) while the low power ranges, i.e. those up to 37 kW, demonstrated a held up well, increasing by 4.5% with 58,600 newly registered cars.
Tractor market, state by state performance.
The contraction in sales affected the majority of European countries, but with some notable exceptions. Considering only the main national markets, the trend sees substantial stability in Germany, which with approximately 18,500 units registered confirms the same volumes as in 2023, and a rebound in Spain.
After a complicated 2023, the Iberian market has in fact recorded a recovery in purchases, which grew by 9.9% between January and July (4,600 machines).
The performance of France and Great Britain was not as positive: if the French market still managed to limit losses to 4.9% (17,400 units), the British market recorded a deficit of 11.7% with just over 7,700 machines sold Finally, as regards the performance of non-European markets, the data seems to confirm the unfavorable situation for two of the main countries: in the sales statistics updated in July, in fact, the United States shows a contraction in tractor sales equal to '11.9% and India a decrease, again for tractors, of 8.7%.
According to FederUnacoma, and as substantially indicated by CEMA, the decline in the European market and in the main foreign markets depends on economic factors, in particular the increase in the price of machines due to the growth in production, transport and logistics costs, and in general by the uncertainty determined by geopolitical variables and the ongoing conflicts in Ukraine and the Middle East. But despite this, demand remains potentially high.
“The forecasts for the period from 2024 to 2027 – explained the President of FederUnacoma Mariateresa Maschio – indicate an average annual increase of 4.9% worldwide for the tractor market. The performance of other types of vehicles is no different, and is expected to grow by 5.4% per year by 2027".
Link in bio> https://www.trattoriweb.com/mercato-trattori-in-europa-chiude-a-11-4-nei-primi-sette-mesi/