Winners and losers in 2023 truck sales

As we’ve already reported, 2023 saw the truck industry set an all-time record for new truck and van sales, with Truck Industry Council T-MARK data revealing a total of 47,757 commercial vehicles rolled off showroom floors and onto our roads. However, despite the rising tide of new vehicles, not every manufacturer was reaping success.

Here’s a granular breakdown of who grew, and who didn’t, across the major commercial vehicle categories for 2023…

The overall total of 47,757 new trucks sold for 2023 was up 7.6 per cent on the 2022 tally, which itself was also a record-setting year. Traditional market sales leader Isuzu remained on top with over double the sales of its closest rival, Hino, although Isuzu did only post a gain of 2.2% over the previous year.

The really strong performances in overall sales for the year came from Volvo, which was up 37.6%, along with Kenworth (up 21.7%), Scania (up 25.7%), and Mack (up 45.3%). But not every brand was in the black, with third-place-getter Fuso down 4.0%, UD Trucks down 6.5%, and Freightliner down 26.2%.

Across the major manufacturer blocks, Daimler (Mercedes-Benz, Fuso, and Freightliner) was on top with 6751 sales, although that figure was down 2.1% from the previous year. Next was Volvo Group Australia (Volvo, Mack, and UD Trucks), with its tally of 5825 trucks up an impressive 26.8%, followed by PACCAR Australia (DAF and Kenworth) with 4505 units, which was up by 21.6% on 2022. Penske Australia (MAN, Western Star, and Dennis Eagle) achieved a year-end total of 608 sales, which was down 3.2% on 2022.

Rank, Brand, 2022, 2023, % change

1. Isuzu, 13,360, 13,658, +2.2%
2. Hino, 5867, 5909, +0.7%
3. Fuso, 5021, 4822, -4.0%
4. Kenworth, 3003, 3655, +21.7%
5. Volvo, 2581, 3552, +37.6%
6. IVECO, 1381, 1634, +18.3%
7. Mercedes-Benz, 1392, 1574, +13.1%
8. Scania, 1100, 1383, +25.7%
9. UD Trucks, 1258, 1176, -6.5%
10. Mack, 755, 1097, +45.3%
11. DAF, 700, 849, +21.3%
12. FIAT, 548, 742, +35.4%
13. Freightliner, 481, 355, -26.2%
14. MAN, 320, 328, +2.5%
15. Hyundai, 259, 321, +23.9%
16. Renault, 368, 190, -48.4%
17. Western Star, 212, 182, -14.2%
18. Volkswagen, 90, 102, +13.3%
19. Dennis Eagle, 96, 98, +2.1%
20. Foton Mobility, N/A, 71, N/A
21. SEA Electric, 19, 26, +36.8
22. Ford, 47, 15, -68.1%
Total for 2023: 47,757,887 (+7.6%)

Sales surged at the big end of town, with the 2023 year-end total of 17,569 heavy-duty trucks up a solid 17.4% over the previous year. Kenworth was first across the line with 3653 trucks, up some 21.7%, but Volvo was close behind with 3476, which was up an astonishing 36.9% on its 2022 total.

Other strong performers included Scania (up 25.7%), Mack (up 45.3%), DAF (up 26.1%), and Mercedes-Benz (up 22.0%), while third-placed Isuzu was also up a commendable 16.2% off the back of strong sales of its FY series.

On the flipside, UD Trucks was down by 4.6%, while contractions were also experienced by Fuso (down 3.2%), Hino (down 4.4%), IVECO (down 12.7%), Freightliner (down 26.2%) and Western Star (down 14.2%).

Across the major blocks, Volvo Group Australia was on top with a total of 5587 trucks, which was up 28.2% from its 2022 tally. Next was PACCAR Australia with 4480 (up 22.5%), followed by Daimler with 2124 (up 1.3%) and Penske Australia with 559 (down 1.8%).

Rank, Brand, 2022, 2023, % change

1. Kenworth, 3002, 3653, +21.7%
2. Volvo, 2539, 3476, +36.9%
3. Isuzu, 2059, 2393, +16.2%
4. Scania, 1100, 1383, +25.7%
5. Mack, 755, 1097, +45.3%
6. UD Trucks, 1063, 1014, -4.6%
7. Mercedes-Benz, 814, 993, +22.0%
8. DAF, 656, 827, +26.1%
9. Fuso, 802, 776, -3.2%
10. Hino, 750, 717, -4.4%
11. Freightliner, 481, 355, -26.2%
12. IVECO, 369, 322, -12.7%
13. MAN, 261, 279, +6.9%
14. Western Star, 212, 182, -14.2%
15. Dennis Eagle, 96, 98, +2.1%
16(eq). SEA Electric, N/A, 2, N/A
16(eq). Hyundai, 5, 2, -60.0%
Total for 2023: 17,569 (+17.4%)

The growth kept coming in the medium-duty segment, where the total of 8004 medium-duty trucks sold in 2023 was up 7.3% from the previous year. However, it was a mixed bag in this category: segment leader Isuzu was up by 21.0% but the next four brands were all down – Hino by 1.4%, Fuso by 8.3%, UD Trucks by 16.9%, and IVECO by 14.4%. Strong growth was posted by Hyundai (up 50.5%), Volvo (up 81.0%), and Mercedes-Benz (up 26.3%), albeit off smaller overall tallies.

Rank, Brand, 2022, 2023, % change

1. Isuzu, 3253, 3937, +21.0%
2. Hino, 2264, 2295, -1.4%
3. Fuso, 1318, 1208, -8.3%
4. UD Trucks, 195, 162, -16.9%
5. IVECO, 132, 113, -14.4%
6. Hyundai, 66, 99, +50.0%
7. Volvo, 42, 76, +81.0%
8. MAN, 59, 49, -16.9%
9. Mercedes-Benz, 38, 48, +26.3%
10. SEA Electric, 19, 24, +26.3%
11. DAF, 44, 22, -50.0%
12. Kenworth, 1, 2, +100.0%
Total for 2023: 8004 (+7.3%)

In contrast to the other major segments, the light-duty truck segment suffered a slight contraction in 2023, its total of 16,166 trucks representing a drop of 1.6% over the previous year.

Segment leader Isuzu still dominates but its total of 7328 trucks was down by 8.9% over 2022, while next-placed Hino was up (by 3.8%) and third-placed Fuso was down (by 2.2%). Strong gains were posted by IVECO (up 36.3%) and FIAT (up 35.4%), while Renault was down by 48.4% and Ford was down by 68.1%.

Rank, Brand, 2022, 2023, % change

1. Isuzu, 8048, 7328, -8.9%
2. Hino, 2822, 2928, +3.8%
3. Fuso, 2901, 2838, -2.2%
4. IVECO, 880, 1199, +36.3%
5. FIAT, 548, 742, +35.4%
6. Mercedes-Benz, 540, 533, -1.3%
7. Hyundai, 188, 220, +17.0%
8. Renault, 368, 190, -48.4%
9. Volkswagen, 90, 102, +13.3%
10. Foton Mobility, N/A, 71, N/A
11. Ford, 47, 15, -68.1%
Total 2023: 16,166 (-1.6%)

The light-duty van segment was on the up in 2023, the 6018 units registered representing an increase of 9.0%. But it was another bag of varied results for the manufacturers concerned, with segment leader Mercedes-Benz (at least, after discounting Chinese brand LDV, which isn’t included in TIC data) up 15.1%, but second-placed Renault down 6.8%.

Strong gains were made by FIAT (up 112.7%) and Volkswagen (up 19.0%), while IVECO was down by 29.4% and Ford was down by 9.3%.

Rank, Brand, 2022, 2023, % change

1. Mercedes-Benz, 2173, 2502, +15.1%
2. Renault, 1246, 1161, -6.8%
3. Volkswagen, 877, 1044, +19.0%
4. FIAT, 268, 570, +112.7%
5. IVECO, 622, 439, -29.4%
6. Ford, 333, 302, -9.3%
Total for 2023: 6018 (+9.0%)

So, what’s in store for 2024? Will we see a third consecutive year of record sales? The economy is still grappling with lingering after-effects of the pandemic but appears to be more resilient than many anticipated. The cost-of-living crisis continues but the prospect of falling interest rates should provide some hope.

Then again, with war raging in the Middle East and Ukraine, a tumultuous US election on the horizon, and the ongoing transition to renewable energy sources, the truck industry’s fortunes for the year ahead remain anyone’s guess. Buckle up, because no matter what unfolds, it’s going to be an interesting ride!