With the announcement of the 2021 truck sales results and the rankings of the brands across each segment, it is Isuzu Trucks which have an outstanding landmark to celebrate. The company has achieved 33 years consecutively as the highest-selling brand of trucks in Australia. An outstanding achievement and made even more notable considering the issues faced by the manufacturing sector in recent years.
Celebrating this accomplishment, Isuzu issued a statement that recognizes the hurdles faced throughout 2021, encompassing the impacts of the pandemic and disruptions in the supply chain. Undeterred by these challenges, Isuzu maintained its dominant stance in the market, successfully distributing a total of 10,175 trucks during 2021. This achievement not only underscores the company’s resilience but also marks a significant milestone, surpassing its prior record sales figures established in 2018.
Isuzu Trucks Key Sales Results
In the 2021 truck sales breakdown by brand, Isuzu emerged as the frontrunner in both the overall brand standings and in the medium-duty and light-duty segments. Isuzu proudly reveals that it concluded 2021 with an expanded market share when compared to the previous year. Impressively, Isuzu captured a noteworthy 24.6% of the entire truck market in Australia over the course of 2021.
Demonstrating remarkable growth, Isuzu achieved a 23% increase in sales volume for the year, signifying a substantial improvement compared to 2020. The results in the light-duty segment were particularly impressive, where Isuzu held a commanding 39% market share. The pinnacle of achievement, however, was in the medium-duty category, with Isuzu not only leading in sales but also attaining a significant 41.5% share of this market segment.
Acknowledging the competitive nature of the heavy-duty segment, Isuzu held a solid position at 3rd place in the market. This placement resulted in an 11.7% market share, underscoring the company's resilience in a challenging field.
Reflecting on the outcomes of 2021, Isuzu Australia Sales Manager, Les Spaltman, recognized that the challenges faced were pervasive across various sectors. The disruptions experienced in practices and processes resonated throughout nearly every industry and the economy as a whole.
Spaltman emphasized that Isuzu's products play a crucial role in maintaining the smooth functioning of both consumer and industrial supply chains. Consequently, the company was compelled to navigate a path to success amidst the challenges. He extended gratitude to all stakeholders - customers, dealers, salespeople, and the entire staff - for their unwavering dedication that contributed to this impressive outcome.
Isuzu's previous record sales figures were set in a notably different operating environment in 2018. Andrew Harbison, the company's COO and a Director of IAL, noted the pivotal role of government economic support in bolstering business confidence, which subsequently encouraged investment in new equipment. The stimulus packages proved instrumental in assisting transport businesses to acquire the necessary equipment required to meet the escalating demands of recent years.
Anticipating the year ahead, 2022, Isuzu is poised for significant advancements across its product offerings, service, parts, and off-highway engines.
Cost-effective Finance for Isuzu
As Mr Harbison acknowledged, the support from Government has been a major driver for businesses to invest. In particular, the Instant Asset Write-off and temporary full expensing measures have been extremely attractive to truck owners to upgrade to new vehicles.
Temporary full expensing is available through to end of June 2023 for eligible businesses and eligible assets. For businesses to realise the tax deduction benefits of temporary full expensing with the purchase of say a new Isuzu truck, Chattel Mortgage is considered the most suitable type of loan.
Chattel Mortgage is often referred to as Equipment Loan by some lenders and is a versatile form of business finance, well-suited for businesses that utilize the cash accounting method. Some Possible Benefits Of Chattel Mortgage Finance include immediate ownership of the vehicle by the business, with the lender accepting the vehicle as loan security. This arrangement not only aligns with the business's accounting method but also provides a seamless path to asset ownership.
With ownership, the asset is transferred to the business balance sheet and as such can be depreciated or written-off under the temporary full expensing measure. Chattel Mortgage can be utilised to purchase any of the trucks in the Isuzu line-up – heavy, medium and light duty.
Chattel Mortgage does attract the lowest interest rate of truck loan products but in making their loan selection, business owners should consult with their accountant. One of the other loan types – Truck Lease finance, Rent to Own or Hire Purchase, may offer greater benefit overall to a business.
All truck loan products have tax deductible elements and allow for a balloon/residual. The treatment of GST is different as is when a tax deduction is realised.
Ready-to-Work models from Isuzu have been especially popular and when purchased with a cheap interest rate loan can present an affordable and practical acquisition. Ready-to-work vehicles can present a great option for individuals looking to start-up their own business in 2022. Jade Truck Loans offers low docs truck loans to assist new businesses truck loans acquire cost-effective finance on Isuzu Trucks.
To secure your vehicle from the top selling brand, Isuzu, speak with us about how we can assist you with cheap finance.
Contact Jade Truck Loans on 1300 000 003 for a loan quote on a new Isuzu.
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