Q1 truck sales third best on record: TIC

The first three months of calendar year 2025 saw new truck sales fall from the record levels recorded for the same period in 2024.

That happened across all heavy vehicle segments, Heavy, Medium and Light Duty Truck and Light Duty Van.

Despite weakening across all segments, the first quarter result is still the third best quarter one result on record, only beaten by the record January to March results from 2023 and 2024 according to the Truck Industry Council.

Year-to-date a total of 10,356 trucks and vans have been delivered in Australia. It’s a decrease of 772 units over this time last year — a 6.9 per cent regression.

Looking just at the month of March 2025 in isolation, 4,125 vehicles were sold, a decrease of 214 trucks (4.9 per cent) over March 2024.

The Heavy Duty Truck segment was down again in March with a total of 1,363 units delivered, down noticeably, 11.1 per cent (-170 trucks), on March 2024.

The first quarter result is marginally better, still in negative territory though, with 3,380 Heavy sales year-to-date, representing just a 10.8 per cent decline (-408 trucks) over quarter one 2024 sales.

The Medium Duty segment posted solid sales in 2024, however the segment is down like all others in 2025.

The March 2025 result saw total sales of 623 Medium trucks, down 4.6 per cent, (-30 units), on March 2024.

At the end of quarter one a total of 1,664 Medium Duty trucks have been delivered, that is down by 4.4 per cent (-77 trucks) over the 2024 tally.

Light Duty truck sales saw record sales in 2023, fading slightly in 2024.

Those slowing sales in 2024 have carried through into 2025 with new sales in the Light truck market shrinking a little more in quarter one.

March saw sales for the small end of the truck market slide in-line with the trend seen year-to-date as 1177 Light trucks were delivered for the month, a 7.4 per cent decline (-94 trucks) over March 2024.

For the quarter, Light Duty truck sales lag those of the same period last year also by 7.4 per cent, equating to 235 less Light trucks sold in 2025 compared with Q1 2024.

“The sales trend that we are witnessing in all heavy vehicle segments year-to-date is one of a slowing market when compared with 2024,” said Tony McMullan, Truck Industry Council CEO.

“All segments are down thus far in 2025 with the most noticeable decline happening at the heavy end of the market.

“However, despite slowing sales this year when compared to the record sales witnessed in 2024, the market remains quite strong, with the quarter one 2025 result the second best start to a year on record.

“Given the potential financial market volatility that we have historically seen in a federal election year, the current heavy vehicle market’s strength and resilience is pleasing to note. However, this will no doubt be tested over the course of the next few months leading up to and beyond the 3rd May election.”

Light Duty Van sales (vans with a GVM between 3,500 kg and 8,000 kg) were solid throughout last year, leading to a new segment record by year-end 2024.

However, along with the trend seen in other segments, Van sales in 2025 have fallen away from the record levels that were seen last year.

The segment posted solid sales in March with a total of 962 units, up 9.1 per cent, or +80 vans, when compared with March 2024.

Despite this, the first quarter tally is tracking down, with 2,385 vans delivered so far in 2025, decreasing 2.1 per cent (-52 vans) compared to the end of March 2024.