Isuzu hopeful of market growth

Isuzu Australia boss Phil Taylor says there are signs the truck market is starting to improve

With two consecutive months of growth courtesy of the Federal Government’s investment allowance, Isuzu Australia boss Phil Taylor says the market is showing signs of long term improvement.

While the most recent results have been inflated by the tax break for business investment, Taylor, Isuzu Australia’s Chief Operating Officer, says the underlying resilience of the local market is also showing through.

"There is no question that the Australian truck market has been hit this year as a result of a slowing economy, however our industry as a whole is coping well with the current conditions, despite being down in volume 26 per cent YTD," Taylor says.

"It is likely that the Government's recent tax incentives have bolstered both June and May sales figures, but according to our own analysis of the market, IAL has noticed a gradual upwards trend since the start of the year."

On top of the recent market growth, Taylor says Isuzu has consolidated its position as the top selling brand, securing a two percent increase in market share, even in the tougher conditions of the last nine months.

"Trucks are a business tool and a necessity for many areas of commerce either directly or indirectly; as a result there will always be a need for new trucks.

"Recent statements by the IMF (International Monetary Fund) and OECD (Organisation for Economic Cooperation and Development) about Australia leading the world in economic recovery may be ringing true. IAL is cautiously optimistic that the months ahead will continue to yield positive results," Taylor says.

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