CNH Industrial brands Case IH and New Holland have reported strong end of financial year results in Australia, with tractors across all horsepower sectors leading the charge.
There were a number of factors attributed to being behind the buoyancy in the market, including the end of the Federal Government's tax incentive, an easing of supply constraints, competitive finance rates from the company's finance arm CNH Industrial Capital and cash back incentives offered by Case IH and New Holland in the lead-up to the end of June.
"Such a positive end to the financial year in Australia is great news for CNH Industrial's agriculture brands," CNH Industrial managing director Australia/New Zealand Brandon Stannett said.
"As we embark on a new financial year, we know the expectation is for drier conditions as we get further into 2023 so our priority is to ensure we're well positioned to continue to support our customers and our dealer network with the consistent supply of machinery and parts in the coming months leading into harvest."
Mr Stannett said there was a big appetite from customers for tractors across all sectors, and there was also strong demand for combine harvesters.
Case IH Australia/New Zealand general manager Aaron Bett said a successful end to the financial year was recognition of the hard work of the dealer network and steps put in place to ensure machinery supply met anticipated demand.
"I've been in this role now for six months and myself and the team, along with the Case IH dealer network, are working hard to keep the momentum going across our product ranges," he said.
"It's another exciting year for our business in other ways, too, with the centenary celebrations for the Farmall tractor, a number of large field days coming up and several new products to be introduced to the market in the coming months."
New Holland Agriculture Australia/New Zealand general manager Bruce Healy said the EOFY had represented an ideal time for their customers to update their machinery.
"Our combine sales were very strong, and our tractor and baler sales were up too," he said.
