News, Trucks

Steady Start to First Quarter Truck Sales

steady start to first quarter truck sales

After the record breaking sales figures reported by the Truck industry Council in 2021, there has been a steady start to first quarter truck sales, as reported for March 2022, according to the latest release from the TIC.

In fact, overall the number of trucks sold are at around the same level at this point of the year as they were twelve months ago. However, the steep increase we saw building over the last three quarters of last year is unlikely to be repeated again in 2022.

In fact, the total number of trucks registered in the first quarter in 2022 is still nearly 500 more than at the same point last year. Extrapolating these figures over the whole 12 months adds up to a total well below the 41,404 recorded at last year’s end.

The top four brands, Isuzu, Hino, Fuso and Kenworth, are well up on their results in Q1 last year, but for many other brands the results are mixed. The results probably reflect the supply chain issues of both 2021 and 2022, with differences coming from the timing of shipments for the different manufacturers around the world. We can expect continuing disruptions as the effects of the pandemic and the war in Ukraine play out over the coming months and years.

steady start to first quarter truck sales

In the heavy duty market, the Kenworth production facility is continuing the churn out the product as it did in the second half of 2021. This month saw 271 new Kenworths registered. Isuzu’s strong start to the year continues with 490 trucks so far this year, compared to 292 at the same time last year.

All three Volvo Group brands, Volvo, Mack and UD Trucks have all started 2022 strongly and come in at three, four and five in the top selling list in Q1. At the same time, Mercedes Benz, Scania and Hino shifted fewer heavies in the first quarter this year than last year.

In the medium duty market the results are looking more familiar this year than they were last year, at this point. Isuzu were struggling with supply chain issues, while close competitors seemed to have a more consistent supply. In fact in March 2021 Hino came close to winning number one slot in medium duty. This time around normal service has been resumed, with Isuzu clearly out in front.

In terms of the light duty truck market, the whole sector remains strong, as online sales and local delivery grow and scale up. Isuzu still dominate the the sales figures, but all three Japanese brands are going strong in this segment of the truck market.

steady start to first quarter truck sales

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