As we saw in the first four months of the year, tractor registrations continued to decline in May. Compared to the same month in 2023, registrations were down 5.4% to 964 machines.
However, the Agricultural Engineers Association (AEA) notes that this decrease is smaller than the 13% that had been reported in earlier months.
Not only that, the 11.3% decrease in the yearly total, down to 5,013 machines is just 5% below the five-year average, despite being the lowest figure in four years.
According to the AEA, this suggests that while demand has weakened, due to lower incomes and adverse weather, it remains fairly robust.