TIn a statement released following the posting of the new truck sales results for the month of August, the Truck Industry Council (TIC) acknowledged that the rate of truck sales growth was slowing. This has turned to a decline in sales for August 2013, compared to the same month a year ago.
The August 2013 total truck market of 2,419 units was 8.5 per cent lower than for August 2012, reducing the total market’s year to date gain over 2012 to just 3.2 per cent. Most months in 2013 have proved to be the strongest post-GFC result, yet sales during August 2013 were markedly lower.
The August 2013 cumulative total was 20,098 units, the best result since 2008’s record. However, this figure is still 17.2 per cent lower than the August 2008 year to date figure of 24,283.
By contrast with the other segments, the Light Duty Van sector was the only one to post growth relative to August last year. The monthly total of 252 units, while significantly lower than the totals from June and July of over 400 units, still indicated growth of 9.6 per cent compared with August 2012. The Light Duty Van segment has grown by 8.4 per cent in the year to date.
Tony McMullan, CEO of Truck Industry Council said: “The August truck sales reflect the condition of slow capital equipment and business investment leading up to a federal election and economic uncertainty. While the car market has been slowed by the federal government’s policy change on fringe benefits tax, this factor does not affect heavy commercial vehicles.
“With less than a week to go before the conclusion of the current election campaign, TIC members are hopeful that truck operators will gain confidence and place orders during September that may have been postponed during the past few months.
“Nevertheless, a resumption of the business investment cycle will take three to four months to be reflected in truck deliveries, so will only be evident in December 2013 and early 2014. It is quite possible that the next two to three monthly (sales) results will fail to reach the same totals experienced in 2012, as has happened in August, with perhaps an upturn in the market being indicated at the end of the year.”