South African tractor sales at 672 units were down 30.2% in October 2009 from the 963 units sold in October 2008, sales data released by the South African Agricultural Machinery Association (SAAMA) showed on Thursday.
On a year-to-date basis tractor sales are now 25.4% less than they were at this time last year, at 4,891 in 2009, from 6,552 units previously, SAAMA said.
October combine harvester sales were two units up on sales in October last year.
On a year-to-date basis combine harvester sales are now 14.6% less than they were at this time last year, at 257 units, from 301 in 2008, the association said.
"Fundamentals in the market, such as interest rates, the relatively low grain prices and tight bank finance remain.
"Potential purchasers of agricultural equipment are still very cautious, despite it still being very much a buyers' market, SAAMA said.
"Year-on-year market comparisons are being made against the exceptional sales in the last four months of last year.
"Nevertheless, market demand is strong, with most potential purchasers waiting to see how the summer rainfall patterns develop before they make their buying decisions," it concluded.
