Tractor Industry Growth: January 2021 Review and Outlook
- Published Date
Despite the COVID-19 pandemic, tractormakers attained a great improvement in January compared to the previous years and increased by 52.6 percent as against the average of the last 5 years. Tractor production rebounded strongly with rates surging by over 70 percent compared to the previous year and it was 10.9 percent behind the average of the last 5 years, although about 50,417 units rolled off the production lines at Turkish tractor plants as output in this period.
Aside from production, domestic sales continued to recover in 2020, towards the average of last 5 years sales rose by just over 2.3 percent to 48,268 units in this FY. After the bottom level in 2019, the domestic market reached the 2018 level again.
Production:
In January 2021, 5,992 units* were discharged from the assembly lines. The Production expanded by 103 percent compared to the previous year and 52.6 percent compared to the average of the last 5 years.
Domestic Sales:
The figures from the Trafic Registration Bureau show that only 6.167 tractors were registered in December 2020. Correspondingly, domestic sales rose by 64.1 percent compared to the previous year and 2.3 percent compared to the average of the last 5 years in December. On the other side, a total of 48,268 tractors (2019-2020 model) were registered to the traffic In the January-December period. Domestic sales increased by 86.8 percent in 2020 compared to the previous year, while it decreased by 15 percent compared to the average of the last 5 years.
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*Production volumes which were taken into consideration, are derived from Başak, Erkunt, Tümosan, Türk Traktör and Hattat tractor companies.
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