May produces solid truck sales

Sales results for May released by the Truck Industry Council (TIC) indicate forecasts for a record year remain on track.

Growth slowed, only slightly, in the combined cab chassis and prime mover category down from 25.7 per cent in April to 24.5 per cent at the end of May – a total increase of 2,616 trucks in comparison to the same period last year.

Should the current sales rate sustain itself for individual units, 2018 will see an additional 6,000 trucks added for the full year.

In the heavy duty category there was an increase of 38.8 per cent year-to-date. 314 more trucks in this sector were sold than May last year, reaching a total of 1,328 units.

In the medium duty category the results ran almost parallel with overall industry trends. 747 new units were purchased in May, an increase of 17.3 per cent on the same period in 2017. The 3,189 total trucks accrued in this category for the year calculates as an increase of 621 over the first five months of the previous year.

A more conservative rate of growth was seen across the light duty sector. The year-to-date result of 4,717 units confirms an increase of 499 units, which equates to an annual growth of 11.8 per cent.

Tony McMullan, CEO of Truck Industry Council, was optimistic as to the market’s performance year-to-date.

“Sales to the end of May continue to be the strongest that we have ever seen, ahead of the previous record year of 2007. It is particularly satisfying to see Heavy Duty truck sales at record or near record levels over the first five months of the year,” he said.

“This is a good indicator that business confidence is strong in the road freight sector as it is across most, if not all, economic segments. The indicators are there for a record first half year result and hopefully a similar result in quarters three and four of 2018.” said McMullan.



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