Government support for farmers investing in more efficient or ‘greener’ equipment and systems helped increase tractor sales by almost a third in 2021 compared with the previous year.
The Australian government’s willingness to financially support agriculture (and other industries requiring heavy equipment) played a large part in the country seeing exceptional sales of tractors and other machinery in 2021 despite ongoing supply challenges.
Agricultural tractor sales in the UK last year regained much of the ground lost during 2020 — the first year of the Covid-19 pandemic — with registrations of tractors of more than 50 horsepower returning to about the same level as in the previous 3 years at just over 12,000 units.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.