DTU TRACTORS

German tractor market growth hits multi-year high.

 

 

Tractor registrations in Germany surged by the fastest pace in at least four years, in the latest sign of a revival in the European Union farm equipment market.

Tractor registrations in the EU's second biggest grain-producing country jumped 64% to some 2,000 in February, the VDMA German engineering federation said.

The market for larger models was particularly strong, with growth in tractors rated above 100kW soaring by 71%.

The rate of improvement - the eighth successive month of positive growth in registrations, and at a pace not seen since at least 2006 - was viewed by analysts at Sterne Agee as representing "another strong month".

'Solidly recovering' 

"Germany tractor registrations continue to show robust gains," the US broker said.

"After initially showing signs of stabilising, Germany appears to be solidly recovering.

"Germany is likely one of, if not the strongest, ag market currently in Europe, as higher grain prices and improving confidence are helping the market.