This is a subscriber-only article
Secondhand tractor sales are up 40% on 2016 as farmers take advantage of the weak sterling to buy in Britain.
CSO figures to the end of July show 1,550 secondhand tractors were taxed in Ireland for the first time, up from 1,106 last year.
Sterling hit a 10-month low on Tuesday, breaking the 90p/€1 barrier.
The trend extends to cars, motorbikes and vans, with secondhand registrations surging across all vehicle categories. The statistics do not differentiate between tractors imported and resold by Irish garages, and direct farmer imports.
New tractor sales
New tractor sales have also rallied after a poor start to 2017. July has become a vital month for new tractor sales, being the first month of the 172 registration plates.
The FTMTA reports 238 tractors sold in July, based on VRT figures. CSO figures for vehicles taxed for the first time are also close to matching those of 2016.
Most are being purchased by contractors and grass farmers, with dairy farmers in particular having more spending power as good markets are sustained through the year.
“We need accelerated depreciation on new machinery. Eight years is too long when financing extends to five years at the very most for purchase,” said the FTMTA’s Gary Ryan.
He reminded farmers of the advantages of shopping local, whether for new or secondhand machinery.
“The security of knowing there are no historical finance or insurance issues, allied to the after-sales service from an FTMTA member, is valued by Irish farmers,” he said.
New vehicles
Used vehicles
SHARING OPTIONS: