Strong sales continue for Aussie truck market

Sales of new commercial vehicles have remained buoyant in 2024, with the latest T-Mark data from Truck Industry Council (TIC) indicating a minimal contraction over the first quarter of this year compared to the previous corresponding period, off the back of last year’s all-time record.

Growth was in fact experienced across all but one of the major vehicle categories across the first three months of this year, with the results ultimately restrained by a slow start in the light-duty segment.

While the total sales for March of 4051 units represents a fall of 2.9 per cent over the same month last year, the first quarter tally of 10,344 units is just 1.1% down. The top three brands all experienced falls, while there were impressive gains made by some OEMs further down the sales leaderboard.

Rank, Brand, 2023, 2024, % change

1. Isuzu, 3240, 2893, -10.7%
2. Hino, 1191, 1131, -5.0%
3. Fuso, 1155, 876, -24.2%
4. Volvo, 755, 807, +6.9%
5. Kenworth, 748, 701, -6.3%
6. IVECO, 384, 434, +13.0%
7. Mercedes-Benz, 312, 413, +32.4%
8. Scania, 208, 314, +51.0%
9. Mack, 189, 240, +27.0%
10. UD Trucks, 273, 224, -17.9%
Total for Q1: 10,344 (-1.1%)

Sales in the heavy-duty segment grew by 5.9% in March, with 1533 units, bringing the first-quarter total to 3788 units – that’s solid growth of 4.8%. Volvo currently leads the segment with 788 units, its year-to-date tally up by 5.8%, while second-placed Kenworth fell, its 701 units representing a fall of 6.2%. Elsewhere there was plenty of growth across the top end of town, with several brands posting double-digit progress.

Rank, Brand, 2023, 2024, % change
1. Volvo, 745, 788, +5.8%
2. Kenworth, 748, 701, -6.2%
3. Isuzu, 515, 548, +6.4%
4. Scania, 208, 314, +51.0%
5. Mack, 189, 240, +27.0%
6. Mercedes-Benz, 202, 233, +15.3%
7. UD Trucks, 232, 200, -13.8%
8. Fuso, 162, 187, +15.4%
9. DAF, 159, 160, +0.6%
10. Hino, 190, 131, +15.4%
Total for Q1: 3788 (+4.8%)

The medium-duty market fell slightly in March, the 653 units recorded down 1.8%, but year to date the segment is powering along nicely, the total of 1741 units equating with a rise of 8.9%.However, it’s a bit of a mixed bag of results across the individual brands represented in this segment, with some posting strong growth (although several only off a small base), and some experience sharp dips.

Rank, Brand, 2023, 2024, % change
1. Isuzu, 790, 925, +17.1%
2. Hino, 386, 494, +28.0%
3. Fuso, 310, 173, -44.2%
4. IVECO, 26, 29, +11.5%
5. Hyundai, 18, 27, +50.0%
6. UD Trucks, 41, 24, -41.5%
7. Mercedes-Benz, 5, 21, +320.0%
8. Volvo, 10, 19, +90.0%
9. DAF, 5, 12, +140.0%
10. MAN, 3, 9, +200.0%
Total for Q1: 1741 (+8.9%)

Three months into 2024, it’s only the light-duty segment that’s struggling across the major market segments, falling 19.9% (with 1259 units) for the month and down 20.2% (with 3129 units) for the quarter. The first two brands by sales – Isuzu and Hino – are both down significantly for the quarter, compared to the previous corresponding period, while there’s plenty of red ink across many of the remaining brands.

Rank, Brand, 2023, 2024, % change
1. Isuzu, 1935, 1420, -26.6%
2. Fuso, 516, 683, +32.4%
3. Hino, 615, 506, -17.7%
4. IVECO, 295, 302, +2.4%
5. Mercedes-Benz, 105, 159, +51.4%
6. FIAT, 145, 107, -26.2%
7. Hyundai, 53, 49, -7.5%
8. Renault, 53, 35, -34.0%
9.(eq) Ford, 3, 12, +300.0%
9.(eq) Foton Mobility, N/A, 12, N/A
10. Volkswagen, 35, 11, -68.6%
Total Q1: 3129 (-20.2%)

The light-duty van segment is charging ahead, the 606 units registered for the month of March up 23.4% from the same month last year and the first-quarter total of 1686 units up 27.4%. With the notable exclusion of LDV, which accounts for a sizeable portion of the market but which isn’t included in TIC T-Mark figures, there have been sizeable gains made by the top few brands, tempered somewhat by contractions at the bottom end of the segment.

Rank, Brand, 2023, 2024, % change
1. Mercedes-Benz, 583, 661, +13.6%
2. Renault, 147, 411, +179.6%
3. Ford, 17, 261, +1435.3%
4. Volkswagen, 312, 187, -40.1%
5. IVECO, 131, 86, -34.4%
Total for Q1: 1686 (+27.4%)

Commenting on the sales figures, CEO of Truck Industry Council, Tony McMullan said the first quarter was a pleasing result.

“The first three months of 2024 have brought near record new truck sales in Australia, with new sales records being set in both the heavy-duty truck and the light-duty van segments.

"It is pleasing to witness that after record sales in 2022 and 2023, the market continues to hold up well for the third consecutive year. Let us hope that this trend continues for the rest of the year and beyond. Hopefully leading to a decrease in the average age of the Australian truck fleet,” he concluded.