The Australian truck market has posted another record year for 2024, topping the elusive 50,000 unit mark for the first time ever according to Truck Industry Council (TIC) data.
It was a race to the finish line for the truck market in 2024, landing on a total truck sales figure of 51,277 units, and while sales slowed across the second half of the year the numbers still toppled the previous record of 47,757 units in 2023.
In terms of total volume across all segments, the clear winner was Isuzu which sold 13,402 units across the year, followed by Hino (5,075), Fuso (3,827), Kenworth (3,774), Mercedes-Benz Vans (3,327) and Volvo (3,193).
Worth noting is that the light-duty van segment (above 3.5t GVM) was a particularly strong performer across 2024, contributing to the record result, and the addition of the LDV and Peugeot brands in TIC’s reporting further bolstered the total numbers.
The heavy-duty truck segment ended the year with 17,152 units sold, slightly down on the 2023 result of 17,569 – accounting for 33 percent of total truck sales in 2024. Kenworth topped the sales ladder in the heavy segment shifting 3,774 trucks last year, trailed by Volvo Trucks (3,115), while Isuzu took third place (2,481).
Medium Duty truck sales landed at 8,132 units to end 2024, closely mirroring the 2023 result of 8,004 sales (up 1.5 percent). Isuzu led the medium-duty race by a considerable margin (4,116 units), followed by Hino (2,371) and Fuso (1,027).
The light-duty segment remained strong across 2024, with a total 14,558 trucks sold – representing 28 percent of total truck sales for the year. As has been the case for more than three decades, Isuzu came out in top spot selling 6805 trucks for the year. In second place, Fuso sold 2,064 units and Hino moved 1,909 light trucks. The light segment was, however, down 10 percent on the 2023 result of 16,166 sales.
As mentioned above, the light-duty van segment posted strong sales throughout the year with no signs of slowing down, with 11,435 vans sold in 2024 – accounting for an astonishing 22 percent of total heavy vehicle sales. Leading the van sales race is Mercedes-Benz (3,327 units) followed by LDV (2,837), Renault (1,810) and Ford (1,563). In 2023, by comparison, the light van segment accounted for just 6,018 units, meaning the segment almost doubled across 2024.
Speaking with TIC CEO, Tony McMullan late last year, he told Fleet HV News that the market will likely soften in 2025, citing the upcoming federal election – which must be held on or before May 17.
“We’ve had record sales the last three years in a row, and near record results for probably five years now, but it will have to soften because these things typically do go in cycles,” Mr McMullan said.
“Being an election year too, we always see a degree of uncertainty within all parts of industry around investment decisions, not knowing where things are going to go. So I think the market will soften a bit across all sectors – so heavy, medium, light and van.”
