Kenworth claims big truck crown, but is market reducing?

Kenworth has moved into fourth position in the Australian market and top of the Heavy Duty segment after outselling rival Volvo in July

DESPITE a reduction in the Australian truck market, Kenworth has reclaimed its crown as 'king of the big trucks', outselling Volvo for the second consecutive month to finish first non-Japanese manufacturer.

Perhaps not unexpectedly, Isuzu retained its lead in the overall truck market, ahead of Hino and Fuso, although Kenworth (283) actually delivered more trucks than Fuso (277) to edge closer in the overall market.

This is even more impressive for Kenworth, as it is an exclusively 'big truck' manufacturer, dealing only in trucks of 16 tonnes or heavier, where Fuso also operates in the Light- and Medium-Duty segments.

While there will undoubtedly be celebrations at PACCAR HQ in Bayswater, home of Kenworth's factory, the July result does show continued contraction in the new truck market, after a year-on-year decrease in June.

With another five selling months remaining in 2024, it is difficult to predict if the market is likely to set another sales record, after a bumper 2023, particularly if interest rates remain at current levels.

Although the truck market is less sensitive to interest increases, especially for fleets locked into regular replacement programs, it is more responsive to decreases in the overall freight task, which is more heavily influenced by rate rises impacting consumer retail demand.

Despite the lack of clarity surrounding future demand, many manufacturers are enjoying strong sales, with Mercedes-Benz Trucks, which also controls the Frieghtliner and Fuso brands in Australia, remaining just behind European rival Iveco, outselling the Italian brand in July.

Scania, Mack and UD Trucks remain 8th, 9th and 10th on the overall leaderboard heading into the final five months of the year, Swedish brand Scania again delivering more than 100 trucks in the month.

With many brands importing all or most of their stock from overseas factories, as well as local supply chain delays with body builders and accessory suppliers, the true state of the Australian truck market is difficult to assess, however the Truck Industry Council has remained optimistic in its media statements throughout 2024.