All-time record for 2024 truck sales

With the recent inclusion of LDV in Truck Industry Council T-Mark data, the Australian commercial vehicle market smashed through the milestone 50,000 vehicle mark in 2024, with an all-time record of 51,277 new trucks and vans registered.

But take away LDV’s contribution of 2975 vehicles, and fellow TIC newcomer Peugeot’s 35, and the market still achieved 48,267 units, which crept past 2023’s record total to set a new high tide mark for new on-highway commercial vehicles.

However, it wasn’t all rosy for every Australian truck and van brand. Let’s take a closer look at the winners and losers for 2024…

The overall total of 51,277 new vehicles was 7.4 per cent up on 2023’s tally, itself a record year, although the results are skewed marginally by the recent inclusion of brands LDV and Peugeot. The month of December saw 4176 new vehicles added, which was just a smidge (+1.6%) up on December 2023.

However, the three top-selling brands of Isuzu, Hino and Fuso all recorded a contraction in sales in 2024, while it was a very mixed bag of results through the rest of the industry.

In the overall count there were solid gains from the likes of IVECO (+15.7%), Mercedes-Benz (+11.8%), and MAN (+28.0%), but significant falls for Fuso (-20.6%), UD Trucks (-23.8%) and DAF (-25.9%).

Across the major Australian brand blocks, Daimler (Fuso/Mercedes-Benz/Freightliner) finished the year out in front with 5852 units, even though the number represented a fall of 13.3% over the previous year. Next was Volvo Group Australia (Volvo/Mack/UD Trucks) with 4994 units (-14.3%), followed by PACCAR Australia (Kenworth/DAF) with 4403 units (-2.2%) and then Penske Australia (MAN/Western Star/Dennis Eagle) with 753 units (+23.9%).

Rank, Brand, 2023, 2024, % change

1. Isuzu, 13,658, 13,402, -1.9%
2. Hino, 5909, 5075, -14.1%
3. Fuso, 4822, 3827, -20.6%
4. Kenworth, 3655, 3774, +3.3%
5. Volvo, 3552, 3193, -10.1%
6. IVECO, 1634, 1891, +15.7%
7. Mercedes-Benz, 1574, 1759, +11.8%
8. Scania, 1383, 1459, +5.5%
9. Mack, 1097, 959, -12.6%
10. UD Trucks, 1176, 896, -23.8%
11. FIAT, 742, 822, +10.8%
12. DAF, 849, 629, -25.9%
13. MAN, 328, 420, +28.0%
14. Hyundai, 321, 359, +11.8%
15. Renault, 190, 348, +83.2%
16. Freightliner, 355, 266, -25.1%
17. Western Star, 182, 234, +28.6%
18. LDV, N/A, 138, N/A
19. Ford, 15, 110, +633.3%
20. Volkswagen, 102, 102, 0.0%
21. Dennis Eagle, 98, 99, +1.0%
22. Foton Mobility, 71, 68, -4.2%
23. SEA Electric, 26, 12, -53.8%
Total for 2024 (incl. vans): 51,277 (+7.4%)

The heavy-duty segment recorded a fall of 2.4% with a year-end total of 17,152 trucks, while a quieter December saw 1381 trucks added, which is down 21.2% over the same month in 2023.

Kenworth topped the segment with 3774 units for the year (+3.3%), while second-placed Volvo achieved 3115 units (-10.4%) and Isuzu rounded out the podium with 2481 units (+3.7%).

Compared to the previous year, solid gains were made by Hino (795 units, +10.9%), IVECO (389 units, +20.8%), MAN (370 units, +32.6%) and Western Star (234 units, +28.6%), while hefty drops were sustained by Mack (959 units, -12/6%), UD Trucks (803 units, -20.8%), DAF (595 units, -28.1%) and Freightliner (264 units, -25.6%).

Across the major blocks, Volvo Group Australia (Volvo/Mack/UD Trucks) was out in front with a year-end tally of 4877 units (-12.7%), ahead of PACCAR Australia (Kenworth/DAF) with 4369 units (-2.5%) and Daimler (Mercedes-Benz/Fuso/Freightliner) with 2076 units (-2.3%). That left Penske Australia (MAN/Western Star/Dennis Eagle) with 703 units, which was up an impressive 25.8% over the previous year.

Rank, Brand, 2023, 2024, % change

1. Kenworth, 3653, 3774, +3.3%
2. Volvo, 3476, 3115, -10.4%
3. Isuzu, 2393, 2481, +3.7%
4. Scania, 1383, 1459, +5.5%
5. Mercedes-Benz, 993, 1076, +8.4%
6. Mack, 1097, 959, -12.6%
7. UD Trucks, 1014, 803, -20.8%
8. Hino, 717, 795, +10.9%
9. Fuso, 776, 736, -5.2%
10. DAF, 827, 595, -28.1%
11. IVECO, 322, 389, +20.8%
12. MAN, 279, 370, +32.6%
13. Freightliner, 355, 264, -25.6%
14. Western Star, 182, 234, +28.6%
15. Dennis Eagle, 98, 99, +1.0%
16. SEA Electric, 2, 3, +50.0%
Total for 2024: 17,152 (-2.4%)

A total of 8132 new trucks were added to the Australian fleet in 2024, which is up 1.6% over the previous year. December accounted for 706 units of that tally, which was down 2.5% over December 2023.

Isuzu dominated the medium-duty market in Australia followed by Japanese rivals Hino and Fuso. IVECO, Hyundai and Mercedes-Benz all made good progress last year compared to the previous one, while Fuso and UD Trucks posted significant drops.

Rank, Brand, 2023, 2024, % change

1. Isuzu, 3937, 4116, +4.5%
2. Hino, 2295, 2371, -4.7%
3. Fuso, 1208, 1027, -14.9%
4. IVECO, 113, 149, +31.9%
5. Hyundai, 99, 137, +38.4%
6. UD Trucks, 162, 93, -42.6%
7. Volvo, 76, 78, +2.6%
8. Mercedes-Benz, 48, 66, +37.5%
9. MAN, 49, 50, +2.0%
10. DAF, 22, 34, +54.5%
11. SEA Electric, 24, 9, -62.5%
12. Freightliner, N/A, 2, N/A
Total for 2024: 8132 (+1.6%)

In contrast to the other major segments, the light-duty truck segment suffered the biggest contraction in 2023, its total of 14,558 trucks representing a drop of 9.9% over the previous year. December saw 1163 trucks added to the tally, which was 2.0% down on the December 2023 figure.

Isuzu still dominates the segment but both it and Fuso and Hino, who collectively form the three top-selling brands, all suffered a hit in 2024 compared to 2023. Elsewhere, there was a surge in sales across cab-chassis-based models that share their DNA with large vans, with IVECO, Renault, Ford and Mercedes-Benz all up, although Volkswagen remained steady.

Rank, Brand, 2023, 2024, % change

1. Isuzu, 7328, 6805, -7.1%
2. Fuso, 2838, 2064, -27.3%
3. Hino, 2928, 1909, -34.8%
4. IVECO, 1199, 1353, +12.8%
5. FIAT, 742, 822 +10.8%
6. Mercedes-Benz, 533, 617, +15.8%
7. Renault, 190, 348, +83.2%
8. Hyundai, 220, 222, +0.9%
9. LDV, N/A, 138, N/A
10. Ford, 15, 110, +633.3%
11. Volkswagen, 102, 102, 0.0%
12. Foton Mobility, 71, 68, -4.2%
Total 2024: 14,558 (-9.9%)

In contrast to the other segments, the light-duty van category was a standout performer in 2024, even without taking newcomers LDV and Peugeot into account. A year-end total of 11,435 units saw the segment grow by 90% over the previous year, as the supply issues of the pandemic continued to fade into the rearview mirror.

Mercedes-Benz was on top in this segment but Chinese player LDV wasn’t too far behind, with Renault in third. Ford’s Transit is powering along in fourth, while the only brand to record a contraction in the segment for the year was Volkswagen.

Rank, Brand, 2023, 2024, % change

1. Mercedes-Benz, 2502, 3327, +33.0%
2. LDV, N/A, 2837, N/A
3. Renault, 1161, 1810, +55.9%
4. Ford, 302, 1563, +417.6%
5. Volkswagen, 1044, 712, -31.8%
6. FIAT, 570, 685, +20.2%
7. IVECO, 439, 466, +6.2%
8. Peugeot, N/A, 35, N/A
Total for 2024: 11,453 (+90.0%)

“It was pleasing to see truck sales hold up well in 2024 and van sales strengthen to record levels,” said Truck Industry Council CEO, Tony McMullan. “This despite challenging economic conditions throughout 2024 in Australia.

“It was equally pleasing to see a new annual new truck and van sales record that exceeded the 50,000 mark for the first time ever. The 40,000 barrier was only broken relatively recently in 2018 and despite the protracted global COVID supply chain disruptions, heavy vehicle sales in Australia continue to set new records.

“The 2024 result of 51,277 sales has surpassed industry expectations, particularly given the above-mentioned economic headwinds. While these record sales numbers in 2024 were set with the inclusion of a couple of van brands who had not previously shared their sales data with TIC, 2024 was a record year for heavy vehicle sales even if these brands were not included, with a tally of 48,267 bettering the previous record of 47,757 vehicles set in 2023.

“However, despite these record new truck sales, the Truck Industry Council and our members remain concerned that the average age of the Australian truck fleet remains much older than that of Europe and North America. An old truck fleet is not conducive to improved safety, public health and environmental outcomes for our society. Moving into an election year in 2025, we must consider what more can be done by both industry and particularly government, to reduce the age of our nation’s truck fleet.”