Higher interest rates, limited stock availability, machinery price rises and demand returning to "normal" levels saw agricultural tractor sales figures continue to slide in April.
According to sales data released by the Tractor and Machinery Association (TMA) of Australia on Monday, tractor sales declined 31 per cent nationally to the end of April, when compared to the same period last year.
Since the start of the year national tractor sales figures have been sliding, with most States' monthly figures failing to come up to those of the corresponding month last year.
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The exceptions have been the Northern Territory - where tractor sales rose in three of the first four months and remain ahead of last year - and Western Australia and South Australia - where sales improved in March but dropped away again last month and now trail those for the same period last year.
But while sales numbers are down significantly, the value of the machines sold so far this year in dollar terms is only 3.2pc behind the same time last year.
TMA executive director Gary Northover said the comparatively small drop in sales value was "a reflection of the mix of sales occurring in the market".
"There appears to be little doubt that the combined impact of higher interest rates, stock availability, machinery price rises, along with a general drop in demand, is seeing sales return to what might be regarded as 'normal' levels," Mr Northover said.
As well, lengthy delays in clearing tractors and agricultural machinery from the port of Melbourne now appears to have spread to Brisbane and Fremantle ports, he said, and as a further disruption to the tractor supply chain was an unwanted disincentive for potential buyers looking to take advantage of the Australian Taxation Office's Temporary Full Expensing program before it ends on June 30.
"On a year-to-date basis we have now seen around 4500 tractors sold, which translates to an annual figure of around 13,500 units, compared with figures around the 18,000 unit mark for the past two years," Mr Northover said.
"The outlook for the remainder of the year is likely to see a continuation of this tapering and, whilst we may see a bump towards June as the Temporary Full Expensing program comes to an end, a full year's sales figure of around the 12,000 to 13,000 unit mark is expected."
In WA, despite another strong month for high horsepower tractor sales following a turn around in March, overall April sales were down 27pc on April last year and cumulative sales so far this year are running 15pc behind last year.
In Victoria tractor sales plummeted 49pc on April last year and trail by 33pc on a year-to-date basis, in New South Wales April sales were down by 26pc and trail by 25pc year to date and in Queensland sales were down 23pc and are 15pc behind last year.
April sales in SA dropped 15pc and trail by 11pc year to date, in Tasmania they dropped by 22pc and are off by 17pc for the year and, while April sales were down by 10pc in the NT, they remain up by 23pc for the year so far.
Demand continued in April for tractors with more than 150 kiloWatts (200hp plus), with sales in this category improving for a second consecutive month.While they were up by 14pc for the month, they remains 17pc behind last year.
In the small 30kW (under 40hp) category - the most likely to be affected by interest rate rises, according to Mr Northover - April sales were down by 51pc and are now 17pc behind year to date.
The 30-75kW (40-100hp) range was also well down, 29pc for the month and 22pc behind for the year, while the 75-150 kW (100-200hp) tractor category was down by 37pc and remains 28pc behind for the year.
Mr Northover said sales of combine harvesters have "virtually now come to an end for this time of the year", but dealers were reporting healthy forward orders which "augers well for another strong season".
After soft sales last year, hay baler sales jumped 40pc in April and are now up 5pc on the same time last year, while sales of out-front mowers continued their downward trend, off by 6pc for April.
Last month the TMA released data for 2022 which showed the national value of agricultural tractors and machinery sales topped an estimated $5.6 billion, up about 9pc on 2021.
Of this total, new tractor sales comprised $2.1b, with sales of 17,702 units up 3pc on 2021 and up 33pc on the five-year average.
The value of tractors sold was also up 3pc on 2021, but up 41pc on the five-year average.
'Lifestyle' less than 45kW (60hp) tractor sales drove the units increase with 10.8pc growth in the sector, but more than 150kW (200hp plus) tractors were the driver of value growth, with their sector sales valued at $64m an increase of 6.2pc.
A total of 1145 combine harvesters were sold last year, 6pc more than 2021 and a whopping 49pc more then the five-year average, with a trend towards larger class 10 headers.
The $878m value of combine harvester sales was 10pc up on 2021 and 63pc up on the five-year average value.
While data is not reported on self-propelled sprayers and tillage and seeding equipment, both sectors are believed to have seen growth in units and value, with 2022 self-propelled sprayer sales estimated at $690m and total tillage and seeding machinery sales estimated to have reached $460m.
In WA 1698 tractors worth $343m were sold last year, a 4pc increase on 2021 and 36pc increase on the five-year average in unit numbers and 13pc and 49pc in corresponding values.
Most of the growth in WA tractor sales occurred in the southern and central agricultural regions, while tractor sales in the pastoral region and South West declined slightly in number and value.
Growth was mainly in the above 150kW sector, but appeared to some degree to be at the expense of tractors in the 75-150kW range.
In WA last year 367 combine harvesters were sold, compared to 316 in 2021, a rise of 16pc year-on-year.
Most growth in harvester sales occurred in the central region and to a lesser degree in the southern region of the State's agricultural area.
