Economic ailments affecting the general economic situation even adversely impacted the farm equipment market. Farmers acquired less tractors, trucks, combines, and additional farm hardware in 1991 than in 1990, and also the downward trend will likely prolong into 1992 if the economic depression goes on.
While the economic downturn is not affecting income level in the farm field as a great deal as in nonfarm industries, it does impact agriculturalists’ selections to acquire financing hardware. Farmers may delay financing ventures pending a brighter financial prospect, as do backers in nonfarm industries. While several ranch inputs, such as seed, fertilizer, as well as pesticides have to be purchased annually, farm equipment acquisitions can easily be postponed, occasionally many years.
There were lesser sales in all kinds of tractors as well as combines in 1991 (desk 35). Four-wheel-drive tractors fell the most, from 5,100 to 4,100 units (20 per-cent). Combine sales fell the least, 7 per cent.
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In March, May, and June 1991, tractor sales were above the identical months of the anticipating 2 years. 1991 TABULAR INFORMATION LEFT OUT sales were below those for 1989 and also 1990 for 8 days of the year (figure 1). From August through December, 1991 sales were below every equivalent calendar month of both 1989 and also 1990. Although tractor sales ascended from the August low of 3400 units, year-end sales were still well below those for the same period last year.
Tractor sales are forecast to go on decreasing via 1992, by as much as 11 percent for the 40-99 hp group. Two-wheel-drive tractors 100 horsepower and over are gauged to reduce the minimum, by 2 per-cent.