Industry News

Truck Sales Boosted

The latest truck sales figures show that the first half of 2023 has continued the record breaking demand of last year, June recorded extra truck sales boosted by the ending of the instant tax write off for capital equipment, as this financial year draws to a close.

Total truck sales figures are up over 3,500 on the record mark reached at the half way point in 2022. Isuzu, Fuso, Volvo and Kenworth are all well up on the sales figures from 12 months ago.

In the heavy duty segment, just about every major player in the market sold trucks in numbers well above the excellent results from 2022. Volvo with 497 and Kenworth close behind at 473, achieved a result which is more than double the monthly result in recent years. In fact, nine brands sold over 100 trucks in June, an unprecedented result.

Volvo has extended its lead in the heavy segment and is now 39 trucks ahead of its main rival, Kenworth, in terms of sales, year to date. Mack managed to sell over twice as many trucks in the last month as it achieved in June 2022. 

The effect of the tax write off can be seen throughout the market, but less so in the medium duty segment, the total of 3,971 for the year so far is only ten more than last year. In the mediums we are starting to see Hino clawing its way back to its previous levels, following its sales hiatus last year. In June, it is back at over 30 per cent market share for the first time in a while.

Isuzu’s dominance in the light duty market continues unabated and, despite a small blip in June, it still retains 45 per cent market share in an intensely competitive light duty segment.


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Truck Sales Boosted appeared first on Power Torque.

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