New tractor sales rise by 70pc
New tractor sales jumped by almost 70pc last month, compared with the same period last year.
In a sign of increasing confidence in the agriculture sector, 419 new tractors were registered last month, which is the highest number registered since January 2009.
Just 248 tractors were registered in January last year, a figure 69pc lower than this year.
The new figures point to a higher level of optimism among farmers, according to Gary Ryan, chief executive of the Farm Tractor & Machinery Trade Association (FTMTA).
"Indications are that February and March will be strong also, with ongoing new sales confirmed," said Mr Ryan.
"This type of activity should bring us towards a level of 1,750 for the year, which was the same figure as in 2009."
Back in January 2009, 551 tractors were registered. However, Mr Ryan added that the 2009 figure included a large number of sales made in the latter months of the previous year.