Truck sales average, Fed budget didn't help
AVERAGE is how the Truck Industry Council describes Australian truck sales in 2014.
Looking at the numbers that have just arrived for May, the "Average" year is continuing.
Tony McMullan, CEO of Truck Industry Council said truck sales typically lagged behind general economic trends by three to six months.
"However what we are currently experiencing is the truck sector being something of an indicator, or barometer, to the direction that our economy is heading," he said.
"Key economic indicators released in the past few days show that our economy is slowing and consumer and business confidence is not strong. Here at the Truck Industry Council we could have told you that this was the case a few months ago.
"Initial reactions to the recent Federal budget have done nothing to renew business or consumer confidence.
"Hopefully we will see this turn around in the second half of the year as the government's planned infrastructure and job creation programs start to be implemented", Mr McMullan concluded.
Year-on-year sales for the month of May 2014 were down 7.0% over the same month last year. The May 2014 total heavy vehicle market was 2575 units, with all segments except LD Vans recording losses when compared to May 2013. The story year-to-date is not much better with total sales down 5.0% (-596 units) compared to the tally recorded this time last year (11333 units sold this year compared with 11929 sales in 2013).
After posting only a slight loss in April, the Heavy Duty segment was hit the hardest of any in May.
It recorded 937 deliveries, or a decline of 15.4% (-171 trucks) compared to May 2013.
Year-to-date the decline in the HD segment is 4.4% when compared with 2013.
Medium Duty truck sales faired a little better in May but sales continue to decline, down 53 trucks, or an 8.9% loss over the May 2013 result.
Total Medium Duty sales were 545 units in May and for the year so far MD sales are down 12.2% compared to the numbers posted in 2013.
For the first time in a while Light Duty truck sales posted only a slight fall, less than the losses seen over recent months.
The light duty segment had 723 sales, a loss of 4% (-30 trucks) over the result seen for May 2013.
Year-to-date 2014 LD truck sales are down 8.6%.
After a negative result in April, Light Duty Van sales were once again back in positive territory in May.
Three hundred and seventy (370) unit sales were recorded for the month, this being a 19.4% (60 vans) improvement over May 2013 and year-to-date van sales are up a very healthy 14.6% when compared to the end of May 2013 results.