August 2021 witnessed another month of lockdown across New South Wales (NSW), with the Australian Capital Territory (ACT) also implementing similar measures. In Victoria, a Delta variant outbreak emerged, leading to the imposition of a 6th lockdown in the state. Parts of Queensland experienced intermittent snap lockdowns, while Western Australia (WA) enforced stricter border controls. In contrast, Tasmania, South Australia (SA), and the Northern Territory (NT) maintained a relatively normal state of affairs within the constraints posed by the ongoing COVID-19 situation.
During this complex scenario, marked by supply chain disruptions and labour and material shortages across multiple sectors, one might anticipate a decline in the economy and business activities. One would expect business operators to defer major investment decisions until a semblance of certainty or stability is restored. However, an intriguing trend emerges as truck sales demonstrated robust performance in August, surpassing pre-pandemic benchmarks.
Surprisingly, growth was observed across all categories, including the heavy-duty segment. The latter is often regarded as a barometer of overall economic health, suggesting that the economy might be more resilient than anticipated amid the prevailing challenges.
We deliver the news based on the Truck Industry Council data on what brands sold the most units in August and over the year to date to assist with your purchase decisions. But in reviewing the figures, be mindful to take into account issues around supply that some manufactures are currently dealing with.
Monthly sales figures can sometimes be influenced by factors related to truck availability, potentially overlooking the challenges confronted by certain truck manufacturers, such as production delays. These figures specifically pertain to the registration of new trucks within a given month, representing those individuals or businesses that successfully received their ordered vehicles. This data encompasses vehicles that might have been previously back-ordered.
However, it's important to note that the data is also reported on a year-to-date basis, providing a more comprehensive overview of the brand's performance across a broader time frame. This approach offers a clearer understanding of how well a particular brand has fared throughout the designated period.
Heavy-Duty Segment
While the heavy-duty segment had experienced less favourable results in preceding months, it witnessed a notable improvement of 33.1% in August. This marks a significant 21.2% surge compared to the same month in 2020, although it's important to recognize that August 2020 presented unique and unprecedented circumstances.
The top five sellers in order are Kenworth which is up over 50% compared with the same period in 2020, then Volvo which is down 14% on 2020, followed by Isuzu and Mercedes-Benz with a big increase over 2020 data and rounding out the top 5 is Scania which is also posted good gains compared with 2020.
Medium-Duty Segment
Sales within this particular segment have displayed a robust 32% rise during August, contributing to a 9.1% overall increase in the year-to-date performance. This category is notably competitive, and the surge in demand for "ready-to-work" and "built-to-go" models has unquestionably played a role in bolstering the sales numbers.
Examining the top five performers in the year-to-date evaluation, Isuzu, Hino, Fuso, US Trucks, and Iveco have emerged as leaders. Notably, UD has registered the most significant growth, boasting a remarkable 58% surge compared to the corresponding period from the previous year. Additionally, Fuso has also made substantial strides, marking a noteworthy 32.6% upswing in sales when compared to the year-to-date figures of 2020.
Light-Duty Segment
Dubbed as the "pandemic performer," the light-duty segment has experienced a notable surge in demand due to the heightened need for home deliveries and online shopping prompted by lockdowns and stay-at-home directives. This shift has prompted numerous businesses to adapt by establishing their delivery services, while transport and courier companies have found it necessary to expand their fleets to accommodate the increased demand.
The segment's performance remains impressive, with yet another substantial uptick of 43.8% in August 2021, reflecting a remarkable 31% increase for the entire year.
Leading the pack in terms of sales were Isuzu, Hino, Fuso, Iveco, and Fiat, all showcasing significant growth ranging from 16% to 34% on a year-on-year basis.
Leading Brands
While many operators will be loyal to a brand, others may be keen to secure the most suitable vehicle, the best priced at the time and may change brand with each new purchase. So many will be interested in the overall brand results.
The brand rankings are based on totals of all segments and with some only active in one segment, the results may not be significant.
Overall Isuzu comes in as top seller on a year to date basis, followed by Hino and Fuso then Kenworth and Mercedes-Benz.
Securing a Big Seller with Small Interest Rate Finance
While the truck market is segmented according to size, Jade Truck Loans offers the same portfolio of loan products for all new trucks regardless of size, application and GVM.
Loan products include:-
- Chattel Mortgage for truck & trailer financing
- Truck leasing
- Rent-to-Own truck finance
- Commercial Hire Purchase
While loan products are assessed based on suitability to a business, requests for Chattel Mortgage are very popular as operators seek to realise the tax benefits available through IAWO and temporary full expensing.
Interest rates vary across the loan products as you can see on our Interest Rate Comparison Calculator but not according to the type of new truck being acquired. The same interest rate can apply across all truck segments. Interest rates and loan offers for new truck finance are based on an assessment of the business applicant and on an individual basis.
To see how cheap the monthly repayments may be on finance for one of this year’s top selling trucks, head to our Truck Loan Calculator and stat crunching the numbers. Or just give us a call and let our consultants do the work for you.
Contact Jade Truck Loans on 1300 000 003 for a loan quote on a best selling truck.
DISCLAIMER: THIS INFORMATION IS ISSUED PURELY FOR THE PURPOSE OF GENERAL INFORMATION PROVISION. IT IS NOT TO BE TAKEN AS THE ONLY SOURCE OF INFORMATION FOR BASING FINANCIAL DECISION-MAKING. THOSE REQUIRING FINANCIAL GUIDANCE AND ADVICE SHOULD CONSULT WITH THEIR FINANCIAL CONSULTANT OR ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISREPRESENTATION OF POLICIES, DATA OR ERRORS IN THIS CONTENT.
