Capital Press reports that the sales of farm equipment in North America surged during the first half of 2013, “exceeding last year's strong levels and surpassing manufacturer expectations.” The heavy buying was driven by Federal tax deductions on machinery purchases and the increased income farmers earned because of high crop prices.
Tractors, in particular, are in high demand. According to the Association of Equipment Manufacturers, tractor sales increased by 12% for the first seven months of 2013 in the U.S. and Canada. Amidst the tax breaks and the high demand for new farm machinery, companies are also manufacturing many new models of tractors for sale.
John Deere, the largest manufacturer of farm equipment in North America, has released new tractors that can perform tasks without a human operator for a limited period of time. The company has also revamped their entire lineup of 5E Series Utility Tractors, which have Interim Tier 4 engines and provide more cab stations and transmission options. Kubota Tractor Corporation, meanwhile, has added the M6060 and M7060 to their M-60 utility tractor line. These new models feature lower engine emissions, a high-capacity hydraulic system, and low operational noise.
The best thing about buying new models is that these are designed using the latest technology available to manufacturers. As such, they offer more comfort, performance, and versatility, as well as better fuel economy. They are also more durable than older products and have warranty for repairs. Farmers can rely on them, especially when farm profitability decreases, making buying new equipment impractical.
If they are not inclined to buying brand new models outright, farmers can also sell or trade their tractors for brand new sets after several years. As a matter of fact, there are many companies that can assist them in advertising used tractors for sale. Many of these organizations run websites, like 411FarmNet.com, that help farmers sell, trade, or buy equipment and communicate with other farming experts from any part of the world.
However, farmers who have not yet bought tractors and are planning to buy them better start canvassing now, because the prices for crops are projected to drop. As farm machinery analyst Adam Fleck was quoted as saying by Capitol Press: “The stock market seems to reflect an expectation that the good times for farm machinery are coming to an end.” Moreover, manufacturers are set to raise equipment prices in 2014 to recover their investments.