Volvo maintains narrow lead in another close truck sales race

For the fifth straight month in 2024, Volvo has trumped arch-rival Kenworth, ending May with a 178 year-to-date (YTD) advantage over the long-time market leader.

According to the latest delivery numbers from the Truck Industry Council (TIC), Volvo notched 339 deliveries for the month, lifting it to a YTD tally of 1480 and a 21.3 per cent market share.

Kenworth recorded 316 for May, bringing its 2024 total to 1302 and a 18.7 per cent slice of the heavies’ pie.

It was a similar story at the top in 2023 at the same time last year, with Volvo a narrow leader on 1301 and Kenworth nipping at its heels on 1286 before a late charge in the final quarter wrestled the crown back.

Overall, it was another bumper month in May for the OEMs in the heavy-duty sector.

May’s numbers sees the segment increase by 65 trucks, or 5.7 per cent, when compared to May 2023 sales.

Isuzu rode the spending surge to notch 226 for the month, which takes its YTD total to 994 and tightens the grip on third spot.

Scania (156) and Mercedes-Benz (102) rounded out the top five in the market with triple-figure numbers. From there, Mack (99) and UD Trucks (90) weren’t far behind, with the likes of Hino (72), Fuso (55) and DAF (49) helping contribute to a heavy-duty sector that delivered 1615 new vehicles in May.

Image: TIC

In the medium sector, Isuzu improved yet for May, topping the leaderboard with 404 deliveries.

The medium-duty truck giant continues to go from strength-to-strength in 2024, having now delivered 1676 trucks in the sector so far in 2024 to nearly double the next best manufacturer.

A comfortable second place belonged to Hino with 203 deliveries made in May, with Fuso rounding out a distanced top three with 86 sales for the month.

From there, Hyundai (15) and Iveco (10) were the only other brands to record double-figure sales for the month in a segment that recorded 750 new units delivered in May.

Overall, the sector once again performed well in May as a whole, increasing its delivery numbers by 9.2 per cent, or 91 units, when compared to the corresponding month last year.

In the lights, it was similar story for overall leader Isuzu, recording a whopping 658 sales in May to bring its YTD figure up to 2601.

Having sold just over half of the entire segment’s vehicles in May, it’s no surprise that the next best brand, Fuso, dropped down to 186 sales for the month.

From there it tightened up, with Hino (145) and Iveco (127) all pushing for second place ahead of a pack that includes Mercedes-Benz (64) and Fiat (56).

Image: TIC

TIC said the light-duty truck sales are “really struggling in 2024” when compared to the other market segments.

“May was another strong month for heavy vehicle sales, with all except the light-duty segment posting gains over May 2023,” TIC CEO Tony McMullan said.

“Those weaker than normal light truck sales are tempering the overall heavy vehicle sales numbers in 2024, however, the market still looks set for a new first half year sales record, with just June sales to come.”

“June is typically a strong month for trucks sales as we reach the end of our financial year and the signs are all positive that we will reach the halfway point of 2024 with a result that will rewrite the record books for heavy vehicle sales in Australia.”

YTD the result for the total market is tracking above this time last year by 574 vehicles, up 3.1 per cent, with a total of 18,915 heavy vehicles sold to the end of May.

“These strong sales are a good indicator that business confidence remains strong in the road freight sector,” McMullan added.

Leave a Reply

Your email address will not be published. Required fields are marked *

Send this to a friend