Always of considerable interest, the Truck Industry Council has recently unveiled the latest truck sales figures, shedding light on the top-performing brands in terms of units sold within a specific timeframe. This data holds general intrigue for operators and provides crucial insights for potential buyers. Moreover, prospective buyers are likely to be particularly keen on discovering avenues for securing cost-effective truck finance to facilitate the acquisition of these new vehicles. We provide an encompassing update on both fronts.
Continuing its robust trajectory, the truck market has sustained impressive sales figures throughout September, extending to the overall year-to-date figures. According to reports, new registrations in September 2022 exhibited a 6.6% increase compared to the same period last year. On a year-to-date basis through the end of September, the figures outpace those of 2021 by 6%. Notably, 2022 has witnessed remarkable growth in truck sales, evidencing the current momentum in the market.
The heavy-duty sector emerges as the standout performer in 2022 sales, closely trailed by the light-duty segment, followed by the medium sector. In contrast, the sales performance within the light-duty commercial van sector continues to experience challenges, reflecting a less than stellar performance.
September Data - Top Selling Brands
The sales figures are reported in brands per truck category for the month and for the YTD. Isuzu has been a stand-out brand in overall sales and for both medium and light-duty in recent months. The brand is having a great year. This continued for September.
However, as has been noted in many reports of sales figures over the past few years, consideration must be given to supply chain issues which may be limiting supply of some makes and models.
The top five brands for sales on a YTD sales basis are:- Isuzu once again setting the benchmark with a significant 32% rise on sales to this time last year: Hino was second with a just over 1% increase on YTD 2021 figures; Fuso third with just over 4% higher sales than YTD 2021; then come the heavy-duty brands with Kenworth in fourth overall posting an 8.6% increase on YTD 2021 sales; and Volvo was in fifth with a very impressive nearly 37% increase on number of vehicles sold at the end of September 2021.
With Isuzu, Hino and Fuso offering models in a number of categories compared with just the one for Kenworth and some others, it’s not surprising to see these three dominating the overall figures. A breakdown of sales per category may provide buyers with a better indication of what is selling best in the area they are interested in.
As mentioned above, the heavy-duty sector has led the truck sales drive over 2022 and the figures as of end of September 2022 continued that trend with impressive YTD comparison rises for all but one of the top five.
Number one in total sales was Kenworth with an 8.5% YTD increase. Volvo was second with its impressive 37.6% rise, followed in third by Isuzu with a huge 53.9% increase on sales for the same period 2021. Scania was in fourth but sold less units in the 2022 period compared with 2021, down nearly 6%. UD Trucks posted the biggest increase in YTD comparisons of 86% to be in fifth. Overall the heavy-duty sector is up just over 16% for 2022 YTD compared with 2021 YTD.
In the medium-duty category the competition between Isuzu, Hino and Fuso continued with Isuzu the winner and with an impressive nearly 26% YTD comparison increase. Hino was second in this category, Fuso third, UD Trucks fourth with a handy nearly 16% increase in sales compared to the same period in 2021 and IVECO in fourth. IVECO had a 33.8% increase in sales compared with the 2021 period but with low numbers in total – 77 units in 2021 and 103 in 2022. Compare this with Isuzu’s 2119 in 2021 and 2665 in 2022 and the significance of taking care when considering statistics becomes clear.
Light-duty is a very popular category especially as these vehicles suit many industry applications and many models can be operated with a standard driver licence. Providing businesses with greater flexibility in allocating staff to different work areas and jobs.
The top five selling brands as reported for the September 2022 period were Isuzu, Hino, Fuso, IVECO and Mercedes-Benz. Isuzu and Mercedes posting the biggest increases in the YTD comparison and it was only IVECO that posted a downturn on the YTD figures.
With supply chain issues and other global factors impacting manufacturing both overseas and locally, it is not surprising to see variations in figures across the brands. For buyers, however, the sales reports may provide a guide to which brands may have stock of vehicles available for immediate sale, especially important for Truck Finance for New Business needs. With interest rates set to rise again before the end of the year, getting a prompt purchase may be significant in terms of finance.
Cheaper Finance Options and Opportunities
Securing cheaper truck finance through a specialist lender such as Jade Trucks Loans can be crucial to the overall cost-effectiveness of a new truck acquisition. The vehicle needs to deliver on efficiency and productivity but if the finance does not also contribute, the total investment may not deliver ROI targets. That starts with our cheaper truck financing interest rates which are available across our loan portfolio.
Customers can also look to taking advantage of opportunities such as temporary full expensing with Chattel Mortgage Truck Finance in order to receive a further benefit through tax deductions.
Contact Jade Truck Loans on 1300 000 003 for cheaper truck finance on a vehicle from a top selling brand.
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