New Holland smashes national sales record in June as farmers embrace Instant Asset Tax Write-Off

New Holland Australia has recorded its best selling month on record as farmers utilised the Federal Government’s Temporary Full Expensing Program of instant asset write offs to purchase needed machinery, and COVID logistics issues ironed out.

New Holland CNH Industrial sales manager Aron Shelly said the company’s successful end of financial year results were underpinned by forward planning to meet consumer demand, as well as competitive finance rates and cash back incentives.

“Machinery sales across the industry were very similar figures to last year, and in June 2023, New Holland experienced its biggest month ever on record — so we know Australian farmers really embraced the Australian Government’s tax incentives to update their fleet and purchase new equipment,” Mr Shelly said.

“Across the industry, combine sales nearly doubled that of last year, and we were pleased to see our sales volume rise in line with increased demand.

“Similarly, we were pleased to see we achieved market-leading sales volume in baler sales.”

Mr Shelly said New Holland had a significant percentage of the combine harvester sales during the last financial year, which according to Tractor and Machinery Association of WA were up 78 per cent in June on the same period last year.

He said New Holland combine harvesters and balers had similar increases in total industry volume by about 50 percent.

“On top of the Instant Asset Write-off, stock levels reached more consistent levels after the logistic challenges that came with the global pandemic, with stock available for immediate delivery across many in-demand models,” he said.

“For us to experience such a successful financial year, and particularly the month of June, comes down to the work our dealership network put into forward planning and ensuring we were ready to meet this high customer demand.

“On top of this, we were able to offer competitive finance rates and cashback incentives to support Aussie farmers and make the equipment more accessible.”

Mr Shelly said now that the tax incentive has ended, “we can expect next year’s sales volume to fall back to regular yearly figures”.

“We are continuing to support our customers by continuing our competitive finance rates, and backing our products with generous warranty protection periods,” he said.