TRACTOR SALES FALL SHARPLY IN Q1
Underlying uncertainty blamed
UK agricultural tractor registrations (units over 50hp) in the first three months of 2015 reached 2,630 units, a decline of 18.8% on the same period of the previous year.
AEA Economist, Chris Evans, said, "This reflects the lack of confidence within the farming sector which has seen an unusual combination of low product prices at a time when the CAP reforms have come into effect. To a limited extent some lower input prices, such as for fuels, have offset the reduced receipts but there has been an underlying uncertainty which has caused caution in respect of investments."The average power continues to rise and for the first quarter of the year was 156.6hp, a rise of 3.9% on a year earlier. Accordingly the total power sold was 15.7% lower than in the first quarter of 2014.
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