Truck sales fall in February

Registrations of new trucks and vans fell by 13.4 per cent in February compared to the same month for the previous year, while year-to-date sales are now down by 14.4%.

According to the latest TIC T-Mark industry data, a total of 2448 new trucks and vans were registered in February, bringing the year-to-date tally to 4300 units.

In the overall figures, Isuzu is leading the charge with 1074 units this year to the end of February, the figure equating with a fall of 4.7%, followed by Hino (582 units, down 24.1%), Fuso (418 units, down 4.3%), Volvo (240 units, down 19.5%) and Kenworth (238 units, down 34.4%).

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The heavy-duty segment was down 19.2% for the month and down 21.1% year to date. Medium-duty was down 12.5% for the month and down 7.5% year to date, and light-duty was down 14.6% for the month and down 14.3% year to date.

In the light-duty van segment, registrations for February essentially held steady compared to February 2019, the 447 units sold equating with marginal growth of 0.7%, while the year-to-date figure saw a fall of 8.8%.

While the effects of the recent bushfires and ongoing coronavirus outbreak remain to be seen, it's fair to say that consumer confidence is in limited supply at present, although these current falls do come against the backdrop of 2018, which saw the truck industry achieve an all-time record for overall sales.

CEO of Truck Industry Council (TIC), the peak industry body for truck manufacturers and importers into Australia, Tony McMullan said

"The February result is in line with industry's expectations, unfortunately," said Tony McMullan, CEO of Truck Industry Council.

"Truck sales are very much mirroring the current Australian economic climate, being average at best. Of looming concern is the impact that COVID-19 is likely to have on Australian freight transport and supply chains. For example, container movements have slowed noticeably according to the Container Transport Alliance Australia.

"This will have many and far reaching consequences for road freight companies in Australia. With a further slowing of our economy, these freight organisations may delay existing fleet replacement plans, further reducing the take-up of new trucks.

"This would lead to an increased aging of our nation's already old truck fleet, with flow-on negative effects for road safety, public health and road freight productivity. TIC calls upon the Federal Government to acknowledge these potential issues and make appropriate financial incentives available to the road transport sector to stimulate growth."