New tractor sales numbers were holding firm by mid-year, according to the latest data from the Farm Tractor and Machinery Trade Association (FTMTA) statistics service. The latest figures on new tractor registrations show that 1,335 new tractors were registered for the first six months of 2016, which is 5% ahead of last year’s year-to-date to figure.

The June 2016 figures show a worrying 20% decline in new tractor registration.

Registration of used imported tractors, mainly from the UK, showed a significant increase as 227 used tractors were registered in June this year compared with 146 used tractors in June 2015. The ongoing collapse in the value of sterling is attracting more Irish buyers, while over 24% of the June used tractors were registered in the days following the UK Brexit vote as the currency declined further.