AEA’s November tractor registration figures is unusually low, especially after October’s strong performance.
At 414 machines, the monthly total was down by more than a third, compared with the seasonal average and by over 40%, compared with the same month last year.
Commenting on the figures, agricultural economist at the AEA, Stephen Howarth, said, “The total for the last two months was very close to the seasonal mean, though, so it is too early to say whether this is just a blip or marks the start of a downturn in the market.
“The combined total for October and November 2023 was below the level reached a year ago, when manufacturers were working through the backlog which had built up over the previous couple of years. Nevertheless, the total for the year to date was still 2% higher than in the same period of 2022.”