Ag Industry, Dealers, Forecasts, TMA

TMA releases latest dealer sentiment survey

The Tractor and Machinery Association has released its latest dealer business sentiment survey, with a near-record number of responses received

After overall confidence about tractor sales and turnover took a hit when the government’s instant asset write-off ended last year, TMA’s latest survey has shown signs of optimism are returning.

TMA’s survey received 111 responses, with dealers from all six Australian states represented. While overall confidence remains cautious, the figures reveal dealers believe the next six months will be better.

When asked what they expected the rate of new tractor sales to do during the next six months, 22 per cent of dealers said they expected them to increase – compared to just 9 per cent during the TMA’s last survey in August 2023.

The percentage that expects tractor sales to remain unchanged was at 35 per cent, an increase from 17 per cent last time.

This means the percentage of dealers who expect sales to decrease during the next six months is 43 per cent, down considerably from the 74 per cent who thought that during the last survey.

There was a similar optimism increase when dealers were asked about turnover expectations for the next six months.

Increased turnover was expected by 17 per cent of dealers, almost double the 9 per cent who were optimistic last time.

Unchanged turnover was anticipated by 47 per cent of dealers, again almost double the 24 per cent last time, while 36 per cent of dealers expect reduced turnover compared to 66 per cent before.

Several sectors also showed big increases in optimism, specifically among sellers of self-propelled sprayers, balers and hay tools, and implements.

Of the respondents, 41 per cent believe new baler and hay tools sales will increase in the next six months, compared to 23 per cent who thought that previously, while just 16 per cent expect a decrease compared to 35 per cent last time.

Self-propelled sprayer sales are tipped to rise by 30 per cent of dealers, up from just 12 per cent last time, while a decrease is predicted by only 17 per cent, compared to 42 per cent in the last survey.

Increased new implement sales are expected by 30 per cent of dealers, up considerably from just 9 per cent last time.

There are now also 31 per cent of dealers who expect used equipment sales to increase in the next six months compared to 25 per cent last time.

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