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End of instant asset write-off scheme sparks record truck sales

Dealerships and OEMs around Australia are celebrating a slew of truck sale records in June.

The latest figures from the Truck Industry Council show a massive drive to deliver keys to owners before the instant asset write-off incentive ended on June 30, with record numbers rewritten across the board.

In total, 6054 trucks and vans changed hands last month, obliterating the previous best mark of 4987 set last year by 21.4 per cent.

Sales in every sector, other than vans, set fresh June records.

New truck and van deliveries across all sectors for June. Source: TIC

In the heavies, 2294 prime movers rolled out the gates – up 43.9 percent from the previous best total of 1594 set in 2022 – with Volvo again leading the charge.

A staggering 497 units were delivered by Volvo dealerships, 190 more than in May, and 24 more than the nearest chaser, long-time market leader Kenworth on 473.

Isuzu also had a month to celebrate in the heavy-duty sector, cementing third spot year-to-date with 291 deliveries and 13.9 per cent of the heavy market.

Mack was the big mover, soaring into fourth spot for June with an impressive 168 rigs heading to new homes.

At the half-way mark, Volvo now has a 22 truck lead on longtime market leader Kenworth. Source: TIC

In the medium truck segment, sales also broke a long-standing record (just), with the 1077 recorded just four more than the previous record of 1073 set back in June 2008.

Almost half of those trucks came from Isuzu alone (476), with Hino also recording a solid 339 deliveries. Fuso came in third on 184, and together that trio totally dominates the sector with more than 92 per cent market share.

Light duty truck sales in June totalled 2034, breaking the previous record of 1751 set in June 2022.

The overall half-year result for calendar year 2023 was also a new record.

The 24,395 heavy vehicles delivered easily trumped the previous best mid-year peak of 20,887 set last year.

TIC CEO Tony McMullan said that cracking the 6000 mark for sales in a single month is a fantastic result for the industry.

“This capped off a great second quarter result and combined with solid first quarter sales, finds the market at record levels at the half way point of the year,” he said.

“These very strong sales numbers to June 30 this year, and strong numbers since Covid relief commenced, demonstrate how government decision-making in the form of an investment allowance can be successful in modernising the nation’s truck fleet.

“Australia, as we know, has one of the oldest truck fleets in the world and with each new truck sale comes a safer, cleaner, greener truck operating on Australian roads. With 24,395 new trucks on the road this year alone, this is indeed a good result for Australian road users.”

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