Truck market sets new records, despite drop in light truck sales in May, new annual record possible

Volvo continues to lead the Heavy Duty segment from arch rival Kenworth, and now sits third overall in the Australian market after the industry enjoyed another record breaking month in May

DESPITE reports of a softening economy, Australian new truck sales remained strong in May, with a sense of 'more of the same', as Isuzu retained its apparently unassailable lead over other manufacturers.

This figure is even more remarkable given a drop in the sales of light duty trucks, normally the strongest of all categories, with indicators pointing toward another annual sales record in 2024, following the record-setting sales of 2023.

Tony McMullan, CEO of the Truck Industry Council (TIC), said the strong sales are a 'good indicator' business confidence remains strong in the road freight sector.

"May was another strong month for heavy vehicle sales with all except the Light Truck segment posting gains over May 2023," Mr McMullan said.

"Those weaker than normal Light Truck sales are tempering the overall heavy vehicle sales numbers in 2024, however the market still looks set for a new first half year sales record."

While Isuzu retained overall market leadership, as well as topping the charts in the light and medium duty categories, Volvo Trucks and Kenworth remain locked in a tense battle for leadership in the heavy duty segment.

With more than 25% of the total truck market, Isuzu delivered 1,288 trucks in May, more than three times the number of second-placed Hino (420), while Volvo claimed third with 348 sales.

Importantly, this result saw the Swedish manufacturer leapfrog Fuso (327), not just for the monthly result, but also moving ahead in the year-to-date sales race, 1,517 to 1,509.

Heavy truck specialist Kenworth remains in fifth overall, reinforcing its popularity with operators, delivering 316 trucks for the month, followed by Mercedes-Benz with 170 units, just edging out fellow European brand Iveco (156).

Despite this, Iveco still leads Mercedes-Benz 733 units to 720 in the year-to-date sales, while Swedish brand Scania remains solid in eighth with 156 deliveries in May, and 615 since January.

Stablemates Mack and UD Trucks rounded out the top ten for the month, with 99 and 97 deliveries respectively, and year-to-date figures of 423 and 410 units.

Volvo continues to lead Kenworth in the high profile Heavy Duty segment, 339 to 316 for May, and 1,480 to 1,302 in the year-to-date standings, followed by Isuzu (226/994), Scania (156/615) in fourth, while fifth is a stalmate between Mercedes-Benz (102) and Mack (99), with both manufacturers delivering 423 units in the year-to-date.

Mercedes-Benz continues to dominate the Light Duty Vans market after another strong May sales performance

Mercedes-Benz reigns supreme in the van segment, with 312 units in May and 1,272 for the year, well ahead of the second-placed overall Renault, with 702 sales for the year, despite a softer May when only 146 units left dealers.

This opened the door for Ford to be second for the month with 213 units, although they remain well adrift of Renault in third, with 567 deliveries for the year-to-date, followed by Volkswagen (85/326) and FIAT (62/211).

Reflecting the confidence of manufacturers in the possibility of another sales record in 2024, TIC CEO Tony McMullan said June would be an indicator of the ongoing strength of the market.

"The month of June is typically a strong month for trucks sales as we reach the end of our financial year and the signs are all positive that we will reach the halfway point of 2024 with a result that will rewrite the record books for heavy vehicle sales in Australia."