Promising signs for truck sales in 2021


The Truck Industry Council believes hope is strong that the second-half upward trend continues

Promising signs for truck sales in 2021
Heavy truck sales are progressing strongly despite the pandemic.

 

The Truck Industry Council (TIC) is focused on a succession of upward monthly commercial vehicle sales totals continuing in the new year.

Despite the economic shock in the first half of the calendar year, the direction was all the right way after from August on.

"The positive trend in new truck sales witnessed for much of the second half of 2020 and particularly evident in October and November, accelerated further in the month of December," TIC CEO Tony McMullan says.

TIC notes December heavy duty truck sector result marked the fifth consecutive period of month-on-month sales growth, with sales since July showing a positive, constant, upward trend. December heavy and medium duty truck sales were particularly strong, almost certainly as a direct result of the federal government’s new "unlimited" instant asset write-off incentive, announced in the October 2020 Budget.


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"Given the nature of new Heavy Truck sales, there is a lag between ordering a new truck, its completion/body fitment, pre-delivery, registration and final delivery to the customer," McMullan says.

"This is typically two to three months for heavy and medium duty trucks.

"The Truck Industry Council was always of the belief that it would take a couple of months at least, before the positive effects of the Federal Government’s October stimulus package would be reflected in T-Mark sales.

"I believe that we have started to witness those positive results in December.

"TIC believes that sales will remain solid as we enter 2021, though the recent up-tick in COVID-19 cases and the resultant border closures, by some states and territories, may slow sales somewhat in the opening months of 2021.

"That said, the general outlook for the Australian economy this year looks healthy and we remain positive that will translate to solid new truck sales in 2021."

 

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