News, TIC

It’s Still a Gangbuster Truck Market

it’s still a gangbuster truck market

On the evidence of the latest truck sale figures released by the Truck Industry Council, the results from the first quarter of 2023, show us it’s still a gangbuster truck market in Australia.

In fact, the numbers overall are over 18 per cent up on the figures at the end of the first quarter in 2022, which was itself a record. With a start like this to the year, and continuing improvement in global supply chain performance, this means we should not be surprised if the record sales of last year are well surpassed this year.

The various market segments are all showing strong figures with the heavy duty segment selling 3615 in the first quarter, as against 3012 over the same period last year. For medium duty trucks the figures are up on last year, but not to the same degree as the heavies. However, light duty sales are well above last year, 3779 compared to 3219 in 2022.

In the heavy duty truck market, the race for the lead is tightening, with Volvo and Kenworth head-to-head, with the Bayswater truck maker, just three trucks ahead after the first quarter. In fact, overall Volvo lead Kenworth, after selling 10 trucks in the medium duty sector in the first quarter. This ding-dong battle is likely to continue for the year as the two production lines, in Wacol and Bayswater push the limits of their productivity.

Elsewhere, Scania have demonstrated an, uncharacteristically, strong start to the year with 208 heavy duty trucks hitting the road so far. Elsewhere in heavy duty, only Mack are going against trend, with lower sales in 2023 that 2022. Other players, like Isuzu, Mercedes-Benz, Hino, UD, DAF and Fuso have all well exceeded last year’s performance. 

In the medium duty truck market, we see Isuzu increasing its stranglehold on sales in this sector, reaching a 53.6 per cent market share in 2023, up from 45.6 per cent at the same point last year. For the first time in quite a while Iveco managed to sneak up to fourth place in this Japanese dominated segment with 15 sales. However, the four Japanese still have 96 per cent of this segment.

Truck sales in the light duty sector remain buoyant and, with Hino returning to the fray, normal service has been resumed. However, Isuzu continues to increase its dominance, with 47.4 percent market share, compared to 37.5 per cent this time last year, it’s still a gangbuster truck market.


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