Truck sales continue to feel the heat

Sales of new commercial vehicles in Australia have continued to decline in August, following on from the shift that first occurred in June after a dynamic start to the year.

Statistics released by the Truck Industry Council (TIC) show that light-duty vans is the only segment bucking the trend with continued growth over the 2023 results – although there’s a caveat, with part of that upswing thanks to two new brands (LDV Deliver 9 and Peugeot Boxer) included from July 2024 onwards.

A total of 4114 new trucks and vans above 3.5t GVM were sold in August 2024, up 4.9 per cent from 2023. If the LDV and Peugeot sales are excluded, the final figures is 3865 – a 1.5 percent decline over 2023.

Year-to-date (YTD) sales are 33,709, which is a seven per cent increase compared to the same period in 2023. Excluding LDV and Peugeot, the figure is 31,599 – a wafer-thin 0.3 percent increase over 2023.

With the market currently in a downward trend, it’s likely to be in the red by the end of 2024.

The heavy-duty truck segment continues to slow, and in August 1308 units were delivered, down 7.8 percent compared to August 2023. The YTD result is looking a little better with sales tracking up 0.6 per cent. In terms of actual truck numbers, the sales gap is 72 more heavy-duty trucks sold YTD, thanks mainly to a record-breaking quarter one result.

Medium-duty truck sales have mirrored heavy-duty in 2024, and that trend continued in August. There were 657 sales during the month, down 5.2 per cent (or 36 units) over August 2023. Consistent sales for much of the first half of 2024 has seen segment remain ahead of 2023 by 1.7 per cent.

Light-duty trucks have taken the biggest hit in 2024, and this trend continued in August as the segment slowed considerably more than any other. A total of 1190 light-duty trucks were delivered, down 6.5 per cent on August 2023, and YTD the drop has collapsed by 14.5 per cent.

By contrast, the light-duty van segment is soaring, even without the LDV and Peugeot numbers. A total of 725 vans were sold in August 2024, up 34.8 per cent, or 187 units more than August 2023. YTD, the result is even more bullish with a total of 5548 van sales, up 42.2 per cent.

LDV and Peugeot included, those numbers swell to 7565 (YTD) and an increase of 93.4 per cent! 

The Chief Executive Officer of the Truck Industry Council, Tony McMullan, is cautiously optimistic about the state of play.

“The inclusion of the LDV and Peugeot brands is great news, however it does complicate comparisons of 2024 verses 2023 sales,” he said.

“Looking at the numbers holistically, heavy vehicle sales this year are tracking comfortably above those of 2023. However, in reality sales are only level pegging those of last year.

“Heavy and medium truck sales remain solid, however light-duty truck sales continue to slow noticeably over 2023. While van sales are well up even without counting the LDV and Peugeot numbers, once these are added in sales are at stratospheric levels in 2024.

“TIC will continue to closely monitor sales across all the heavy vehicle segments for the remainder of 2024 and keep industry and government updated on the results and trends.”