Australian truck and heavy van sales for the 2022 calendar year totalled 44,379 units, as detailed in the Truck Industry Council T-Mark data released on Wednesday 4th January 2023, up a significant 2,975 units, or 7.2 percent, over 2022.
However more importantly, the final tally was a new record for heavy vehicle sales in Australia, eclipsing the 41,628 new truck sales mark set in 2018, by 2,751 vehicles, or approximately 6.2 percent.
While a new overall market record was set last year, it was not the only record set in 2022, with a number of other records broken too. Quarters two and four were the strongest, however some new records were set in quarters one and three, highlighting the strength of the market throughout 2022. By year end, new sales records were set in both the Heavy and Light truck segments, further highlighting the robustness of sales across the heavy vehicle sector.
Taking a closer look at the results for the fourth quarter 2022, T-Mark results show sales of 12,144 vehicles. This was a new quarter four sales record, eclipsing the previous best fourth quarter record set way back in 2007 (just prior to the Global Financial Crisis) when 11,013 heavy vehicles were delivered in October through to December. It was also a record quarter for both Heavy and Light truck sales in Australia, more details about this are below in the relevant segment updates. Reviewing the overall numbers for the month of December 2022 in isolation, the total heavy vehicle market of 4,112 units, was up a healthy 584 vehicles (16.6 percent) on the 3,528 trucks sold in December 2021. This result was a new December sales record, surpassing the previous December mark set in 2021.
The Heavy Duty Truck Segment managed to amass sales of 1,481 units for the month of December 2022, up a healthy 215 units, or 17.0 percent, over the December 2021 result. In the fourth quarter of 2022 HD truck sales reached a total of 4,379, up 484 trucks, or 12.4 percent, over October to December 2021. This was a new quarter four HD record, finally overhauling the previous high mark set way back in 2007 of 4,041 Heavy truck sales. Overall, 2022 saw much healthier Heavy truck sales and the end of year total of 14,966 was a new record for the segment surpassing the 2018 peak of 14,344 by 622, or 15.1 percent. Heavy Duty trucks make up the second largest slice of the Australian heavy truck and van market, accounting for 33.7 percent of all heavy vehicles sold in 2022, trailing the Light Duty truck segment for the third year in succession.
The Medium Duty Truck Segment has seen modest growth over the year, though December saw sales slow. The December 2022 total was 688 units, representing 46 less MD sales over the same month in 2021, that is a decline of 6.3 percent for the month. The fourth quarter MD segment result of 1,954 is down on the final quarter 2021 result of 2,030 units by 76 trucks, or 3.9 percent. This is well behind the final quarter record for Medium trucks, set back in 2007 when 2,812 MD trucks were delivered in the final three months and highlights the freight industryâs move away from Medium trucks into either smaller Light Duty trucks, or to larger Heavy trucks. The total tally of 7,850 MD truck sales in 2022, eclipsed that of 2021 by 6.2 percent, or 460 trucks. While up on 2021 sales, the 2022 result is well below, 26.4 percent, the segment peak of 2007 when 9,923 Medium Duty trucks were delivered. Again highlighting, that this segment is less favoured by transport operators. In 2022 Medium Duty truck sales accounted for just 17.7 percent of new heavy vehicles sold in Australia, almost half of the 2001 peak of 30.9 percent.
As detailed above, the Light Duty Truck Segment set a new sales record in 2022 and the month of December also delivered record sales with 1,393 deliveries for the month, up 15.8 percent (190 trucks), over December 2021, this also being the previous best December result for LD truck sales. The fourth quarter total of 4,239 unit sales, was up on quarter four 2021 by 11.5 percent (437 units) and is a new fourth quarter record, beating the previous mark by 15.7 percent that was set in 2018, when 3,575 LD trucks were delivered. The yearlong sales trend in the Light Duty truck segment was also strong and as mentioned in the opening paragraph, set the scene for a record LD truck sales year in 2022. A total of 16,044 âlittle trucksâ were delivered last year, breaking the previous best Light Duty truck sales mark, set in 2021, by 1,690 trucks, that equates to an 11.8 percent rise. The Light Duty truck segment accounted for at 36.2 percent of all heavy vehicle sales in 2022, comfortably making this segment the largest.
The Light Duty Van Segment struggled for most to the year in 2022, when compared to the record sales achieved in 2021. By year end just 5,519 Vans above 3.5t GVM were sold in Australia, down a significant 17.1 percent (1,142 Vans) over the previous yearâs result of 6,661 van sales. December saw stronger than average 2022 sales for the van segment with 550 vehicles delivered, well up on December 2021 sales by 69.2 percent (225 vans). The 2022 fourth quarter result of 1,572 new van sales was up on the 2021 fourth quarter result of 1,256, by 316 vans, or 20.1 percent, indicating that the supply issues that plagued the sector in early and mid-2022, out of Europe, were easing. Slowing sales in 2022 has seen the Van segment slip to just 12.4 percent of the total Australian new heavy vehicle market, well down on their market peak of 18.1 percent share, at year end-2020.
The Chief Executive Officer of TIC, the peak industry body for truck manufacturers and importers into Australia, Tony McMullan, said: âIt was pleasing to see 2022 finish by setting a new all-time sales record for new truck sales in Australia, eclipsing the previous peak set in 2018.
“It was equally pleasing to see that new truck and van sales broke through the 40,000 mark for just the third time ever, with the final figure of 44,379 sales, surpassing industry expectations. Heavy and Light trucks set new, whole of year, sale records with both segments showing no signs of slowing growth over the twelve months of 2022.
“If there is a concern to be taken from the numbers in 2022, it is the slowing of sales in the Van segment, highlighting how global unrest/supply chain issues, can significantly impact the Australian market.
“The Truck industry Council (TIC) and our members, remain concerned that current heavy vehicle orders taken under the COVID instant asset write-off tax incentive, can be fulfilled in the first half of 2023 due to these ongoing global disruptions. TIC again calls upon the federal government to extend the deliver timeline for this incentive program, for all current heavy vehicle orders.â Mr McMullan concluded.
Truck Industry Council is the peak body representing all suppliers of on-road heavy vehicles in Australia. TIC members represent 17 truck brands currently on sale in Australia, plus four truck engine and major component brands.
Heavy Duty Truck Segment is defined as cab-chassis type vehicles (both rigid and prime mover application) with a) Three or more axles; or b) Two axles, a Gross Vehicle Mass greater than 8,000 kg, AND a Gross Combined Mass of more than 39,000 kg.
Medium Duty Truck Segment is defined as cab-chassis type vehicles with Gross Vehicle Mass of greater than
8,000 kg, but with a Gross Combined Mass up to and including 39,000 kg.
Light Duty Truck Segment is defined as cab-chassis type vehicles with Gross Vehicle Mass of 3,501 kg to 8,000 kg inclusive.
Light Duty Van Segment is defined as enclosed van (non passenger carrying) vehicles with Gross Vehicle Mass of 3,501 kg to 8,000 kg inclusive.
