Kenworth is an icon of Australian trucking scene and a stalwart of many industries that rely on these rugged, reliable vehicles to transport stock, supplies and materials across the country. Despite many other manufacturers entering the Australian market and many other manufacturing industries closing local operations, Kenworth has survived and thrived. At their Bayswater Victoria plant, the company, PACCAR, has continued production and now celebrates 50 years of manufacturing in Australia.
This significant achievement coincided with a momentous occasion - the completion of the 70,000th truck produced at the company's Bayswater manufacturing facility. This remarkable event was commemorated with a ceremonial gathering at the factory, attended by company management, dedicated staff, and an esteemed assembly of Government Ministers. The presence of these Ministers underscored the company's enduring legacy and its substantial contributions to the Australian industrial landscape.
Federal Treasurer, Josh Frydenberg, delivered a noteworthy address during the ceremony. He highlighted the economic significance of the new truck industry in Australia, estimating its value at around $3.5 billion, with an additional $6 billion in related economic activity. The Treasurer was quick to acknowledge a fact well known to Kenworth owners - the impeccable reputation these trucks have earned for their unwavering durability, robustness, and remarkable capabilities.
Furthermore, Treasurer Frydenberg underscored a sentiment universally understood in the trucking community - the pivotal role played by the road freight sector in maintaining a steady supply chain throughout the challenging times brought about by the coronavirus pandemic. This acknowledgment underscores the essential contributions of the road freight industry to Australia's economic resilience.
Kenworth History and Heritage
The Kenworth legacy in Australia traces its origins back to the 1950s when two enterprising Australian truck drivers embarked on a journey that would shape the course of the nation's trucking industry. Following a visit to the United States, these pioneers began importing American-made Kenworth trucks into the country. However, what truly set these imported vehicles apart, and continues to define the brand today, is their meticulous engineering tailored to Australian standards. This approach laid the foundation for Kenworth's enduring success on Australian roads.
In the subsequent decades, particularly during the 1970s, Kenworth's commitment to the Australian market led to the establishment of a local manufacturing facility. This pivotal move marked a significant turning point in the company's evolution. Over the span of the past 50 years, Kenworth's Australian manufacturing venture has witnessed the creation and introduction of over 60 distinct truck models tailored to the unique needs of the Australian trucking landscape. This dedication to innovation and adaptation has solidified Kenworth's prominent role in the nation's trucking heritage.
While Jade Truck Loans can’t quite match Kenworth’s 50 years, we have been providing cheap truck finance to operators over a very long period and have financed a significant number of Kenworth vehicles.
Significant Role in Economic Recovery
For those who may have been hesitant about purchasing a new truck or delaying their investment, the remarks made by the Treasurer offer compelling reasons to move forward with such a decision. During the event, Mr. Frydenberg emphasized that the trucking industry, along with manufacturers like Kenworth, would play a pivotal role in driving Australia's economic recovery following the challenges posed by the COVID-19 pandemic and the subsequent recession.
The Treasurer specifically highlighted several key initiatives put forth by the Government, initiatives that we have also been advocating to truck buyers in recent times. He mentioned the Government's efforts to support apprentice employment, programs aimed at enhancing skills development, various tax incentives, and the increased emphasis on infrastructure projects, particularly those related to road improvements.
These encouraging comments from the Treasurer provide a positive outlook for potential investors in new trucks, underscoring the broader economic support and opportunities available within the industry.
60 Kenworth models have rolled off the production line in Australia over the past 50 years and today’s buyers have a large line-up of current models to select from. Current model ranges include:- K200, T360, T410, T610, T659, T909, C5 Series and the Limited Edition Legend 900 Series.
The Legend Series is being crafted as a tribute to the remarkable 50-year journey and will be released in a limited edition. Given the restricted availability of these vehicles, if you are enthusiastic about acquiring a piece of Australian trucking history, we strongly encourage you to engage with Jade Truck Loans to explore your options for securing the necessary finance for the purchase.
Securing Your Part of History
For the purchase of new Kenworth trucks, Jade Truck Loans offers our full range of finance products, all with our own company trademark and ‘heritage’ – cheap interest rates.
When purchasing a Kenworth, you can select the loan type that will deliver the most significant benefits to your business:-
Just as Kenworth trucks are all individually manufactured here in Australia, Jade individually sources, negotiates and structures every truck loan package for our customers.
As the Treasurer mentioned, tax incentive measures are currently available companies investing in new assets such as trucks. Of particular note is temporary full expensing and IAWO, both available in this financial year for eligible businesses for the acquisition of eligible assets. Check with your accountant or at www.ato.gov.au that your business meets the guidelines. To take advantage of these accelerated asset depreciation tax measures, Chattel Mortgage is seen as the most suitable form of finance.
If you would like to celebrate Kenworth’s milestone with the purchase of a Kenworth Legend Series or any other model in the range, contact Jade and speak with one of our consultants about our finance options. To calculate rough repayment estimates, use our truck loan calculators.
At Jade Truck Loans, we proudly join the trucking and transport industry in extending our heartfelt congratulations to all those at PACCAR Kenworth for achieving this remarkable milestone. We eagerly anticipate many more years of this iconic road freight symbol continuing to grace our roads as they roll off the production line.
Contact Jade Truck Loans on 1300 000 003 to discuss a truck loan on a new Kenworth truck.
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