Tractor production data released in June, with tractor production exceeding 300000 units in the first half of the year

Recently, the National Bureau of Statistics released data on the production of large, medium, and small tractors by large-scale wheeled tractor manufacturers in June 2023.

Note: According to the standards of the National Bureau of Statistics, large tractors: greater than 100 horsepower; Medium tractor: 25-100 horsepower; Small tractor: less than 25 horsepower.

1、 Tractor production data for June

The total production of tractors in June 2023 was 34400 units, a decrease of 11.09% compared to the production of 38692 units in June 2022.

Among them, in June, the production of large tractors was 6385 units, medium tractors were 14015 units, and small tractors were 14000 units.

In June, the cumulative production of tractors was 58523 large tractors, 154832 medium-sized tractors, and 91000 small tractors.

1. Large tractor production

According to statistical data, the production of large tractors in June 2023 was 6385 units, an increase of 6.2% compared to the same period last year. The year-on-year growth rate has decreased.

The cumulative production of large tractors from January to June was 58523, a year-on-year increase of 15.6%. In the case of a significant increase in production from January to May, the cumulative increase in production from January to June has not changed much.

2. Medium tractor production

According to statistical data, the production of medium-sized tractors in June 2023 was 14015 units, an increase of -22.0% compared to the same period last year. After turning from an increase in May to a decrease, the decline in June further increased.

The cumulative production from January to June was 154832 units, a year-on-year increase of -2.8%. After the cumulative production from January to June decreased, the decrease in January to June increased.

3. Output of small tractors

According to statistical data, the production of small tractors in June 2023 was 14000 units, an increase of 16.7% compared to the same period last year. Starting from this year, small tractors have changed their downward trend over the past few years and started to show growth month by month.

The cumulative production of small tractors from January to June was 91000 units, a year-on-year increase of 24.7%, continuing to maintain a high growth rate.

2、 Forecast of Tractor Production in 2023

Starting from December 2022, the tractor market was affected by the emission upgrade of the fourth country, and prior to this, there was a significant amount of early consumption. From January to April 2023, the production of tractors increased instead of decreasing, mainly by replenishing inventory. With no significant improvement in sales in various regions, it gradually spread to production enterprises. Starting from May, the cumulative production of medium-sized tractors shifted from an increase to a decrease, and the decline further increased in June.

Due to the fact that tractors in China are still in the development stage and far from reaching saturation, the relative demand gap is relatively large, especially in some provinces and regions, such as those with more hilly and mountainous areas and southern paddy fields provinces, where the tractor market has not yet fully started. With the launch of these markets and the country's emphasis on large and small agricultural machinery, large tractors for large-scale operation and small tractors for hilly and mountainous areas are being targeted, We will receive policy support for rapid development.

Taking into account the above factors, the previous prediction is continued: China's tractor production may reach over 620000 units in 2023, an increase of over 8% compared to 2022. Among them, the production of large tractors is about 120000 units, medium tractors are over 320000 units, and small tractors are over 180000 units.