Second-hand package in demand as new tractor registrations droop – Farmers

Second-hand package in demand as new tractor registrations droop – Farmers

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Lengthy manufacturing lead instances for brand new equipment are lowering the variety of agricultural tractor registrations within the UK.

With fewer new tractors accessible, demand for second-hand equipment is booming and high-specification tractors with low hours are reported to be in most demand.

Brown & Co divisional companion George Watchorn says the shortage of availability and ever-increasing costs of recent gear are serving to to assist the second-hand market.

See additionally: Fall in June tractor registrations as provide points worsen

Mr Watchorn mentioned: “I can’t see that development altering within the coming months, whereas these components are nonetheless current within the market.

“Demand is powerful within the UK, and we’re additionally promoting so much abroad as nicely to jap Europe and Eire.”

The gadgets promoting greatest in the intervening time, in response to Mr Watchorn, are low-houred second-hand tractors and good clear cultivation gear.

Invoice King, chairman and auctioneer at Cheffins, says good-quality second-hand equipment costs have risen because the pandemic and are nonetheless rising.

Mr King mentioned: “Usually, there’s a scarcity of second-hand gear coming by way of to the market, as a result of the brand new gear isn’t being equipped as rapidly because it was pre-pandemic. Subsequently the trade-ins aren’t approaching to the second-hand market.”

Gear is being held on for longer, which implies the better-quality equipment with decrease hours and better spec are in brief provide and fetching a premium, in response to Mr King.

“Numerous producers have additionally elevated costs this 12 months, so the upper the worth of a brand new piece of kit, the upper the affect on second-hand residual costs,” he mentioned.

New tractor registrations

The variety of registrations of recent tractors in July dropped by 4.5% on the identical month final 12 months, with simply 973 models registered.

Throughout the first seven months of 2022, the variety of new registrations was 7,393, down by 6% on the earlier 12 months.

Stephen Howarth, agricultural economist on the Agricultural Engineers Affiliation, cites supply-chain challenges and longer lead instances as the main causes for the autumn within the variety of machines being registered.

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