Australia's Truck Industry Council (TIC), the peak body for new truck and engine manufacturers, remains confident in the strength of the Australian market, with the release of the July sales figures.
Tony McMullan, the CEO of TIC, said members are confident the market remains strong, pointing out the year-on-year sales figure for July showed an increase over 2023.
While there have been month-on-month fluctuations during 2024, Mr McMullan said the national freight task remains strong, and with it, the demand for new trucks.
"Freight demand remains strong and thus the need for safer, cleaner, greener and more efficient new trucks will remain, our members generally see a positive outlook for the future" Mr McMullan said.
Delays within the 'third party' supply chain, for items such as bullbars, truck bodies and trailers, for manufacturers remain, however Mr McMullan said this is an issue for industry generally in Australia, not just the truck market.
"TIC members are ever mindful of the supply chain environment and how it affects their businesses but that is the reality that all businesses are dealing with today.
"TIC members are simply getting on with business and delivering trucks and vans which is reflected in the strong figure year to date."
Although the Reserve Bank of Australia (RBA) this week announced the official interest rate would remain unchanged, at 4.35%, Mr McMulland said TIC members remain confident in the strength of the market.
"TIC members are concerned about any talk that could lead to a slowing down of the economy but note that freight demand remains strong and thus the need for safer, cleaner, greener and more efficient new trucks will remain," Mr McMullan said.
"Our members generally see a positive outlook for the future."
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