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Truck sales off to a slow start

Truck sales in the first quarter of 2014 have been slow according to Australia’s Truck Industry Council (TIC).

The good news, however, is that March figures were particularly strong, reversing the downward trends of January and February. In fact, overall commercial vehicle sales of 2631 units in March this year went close to equalling the 2651 trucks sold in the same month in 2010 which is still the best March result in the aftermath of the Global Financial Crisis.

According to TIC, ‘Economists are predicting growth in 2014, however overall market confidence is tempered by the continued announcements of manufacturing closures, particularly in the automotive and associated industries. Perhaps it is this lack of consumer and business confidence that gives rise to the slow start for truck sales in 2014.’

TIC’s T-Mark truck data shows 6644 units were delivered to the end of the first quarter this year, compared to 6777 trucks in 2013.

‘The March and first quarter sales figures continue a recent trend that sees the light-duty van segment post healthy growth, while heavy-duty sales were up slightly. Light and medium-duty segments were weaker,’ says TIC’s statement on first quarter results.

“It is encouraging to see a good result in March,” commented Truck Industry Council chief executive officer Tony McMullan.

“However, this was not enough to prevent a fairly poor first quarter result. If the March sales are the start of a continued upward trend, then we could be in for a solid result in 2014, but it is too early to make that call after just one good month,” he concluded.

Source: Leading independent industry journalist.

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