Mixed bag for January truck sales

The Truck Industry Council has released its T-Mark sales data for January, with the 2703 total new trucks and vans sold down 2.9 per cent on the same month last year. While most of the major categories recorded promising gains, a significant drop in the light-duty truck segment restrained the overall result.

In overall sales, Isuzu retained its number one position with 758 new trucks sold, but that figure – again, heavily impacted by the light-duty truck market – was down 15.8% over the January 2023 tally. Some way back was second-placed Hino with 265 trucks (down 12.0%), which edged out Fuso by just a solitary vehicle (264 units, up 6.0%). Next was Volvo with 179 trucks, up 0.6%, while nipping at Volvo’s heels was Kenworth, which rounded out the top five with 174 units, the figure representing a drop of 11.7%.

A total of 948 new trucks opened the books in the heavy-duty segment, which was essentially steady compared to January last year (up 0.4%). Volvo leads with 179 units (up 2.3%) from Kenworth on 174 (down 11.7%), which was followed by Isuzu with 130 (down 13.3%), Scania with 86 (up 48.3%), and Mack with 61 (up 15.1%).

The medium-duty segment saw 440 new trucks roll of showroom floors for the month, the figure up 8.4% from the previous year. Isuzu heads the leaderboard with 243 trucks, up 9.5%, ahead of Hino with 135 (up 73.1%), Fuso with 38 (down 53.1%), IVECO with six (up 20%), and Hyundai with five (up 25%).

The light-duty truck market was the only major category to take a hit, the 823 units registered equating with a drop of 19.9%. Isuzu still remains well clear of the rest with 385 units for the month, but that number represents a drop of 27.1% over the same month last year. Next is Fuso with 168 (up 2.4%), Hino with 101 (down 17.2%), IVECO with 62 (down 11.4%), and Mercedes-Benz with 42 (up 31.3%).

And that leaves the light-duty van segment, which achieved sales of 492 units for a solid increase of 20.9%. Leaving out LDV, which doesn’t feature in T-Mark data, Mercedes-Benz is on top with 154 units, but that figure is down 23.8% from the same month last year. Next is Renault with 108 (up 89.5%), followed by Ford with 94 (up 9300% – clearly its supply issues are abating!), Volkswagen with 87 (up 70.6%), and FIAT with 31 (down 29.5%).

And so the starting gun has fired for a new calendar year of truck sales. While the first month can’t shed much light on any emerging trends that may play out through 2024, this January’s total is at least close to that of the same month last year – a year that went on to set an all-time record for sales of new trucks and vans.

“As in 2023, it is very pleasing to see such a strong start to the year for new heavy vehicle sales in Australia, with the heavy truck and light van segments setting new January sales records and medium trucks posting their best January sales result in five years,” said the CEO of Truck Industry Council, Tony McMullan.

“However, as I generally remark at this time of year, January and even February sales, are subject to fluctuations and some inconsistencies due to the transition of supplying trucks from one year to the next and the summer holiday period.

“The relative poor showing in the light truck segment could well be due to these factors. Hence one should not read too much into these January results. We will have a much better indication of how the market is tracking for the year at the end of the first quarter, once January, February and March numbers are in and the market has had a chance to normalise.

“With recent positive economic signs, such as inflation easing, we have perhaps seen the worst of interest rates hikes and similar economic deterrents and if the economy strengthens in 2024 that could bode well for truck sales this year,” Mr McMullan concluded.