Truck income cool in February: TIC
After a strong and higher than anticipated begin to the 12 months in January 2019, new truck and van income cooled drastically in February, according to the Truck Industry Council (TIC).
A general of two,827 heavy trucks and vehicles had been sold across Australia in the second month of the yr, down almost six consistent with cent on February 2018 income. All segments recorded terrible growth for the month while as compared to February 2018 sales. The negative February result has pulled the sales common for 2019, after January’s good begin. Year-to-date income at the cease of February is now trailing the 2018 marketplace through three.9 consistent with cent (-205 trucks). By evaluation, on the quiet of January, sales have been down by using just 31 cars, at the same time as the Heavy Duty phase turned into monitoring 1.7 in step with cent above 2018 ranges. While income did sluggish pretty in February, the result became the 1/3 fine for the month of the yr, most effective beaten by way of February income in 2008 and 2018.
Fairing the first-class of all the segments in February, the Heavy Duty truck phase turned into down by using 1.Zero in keeping with cent (-10 vehicles) for the month with an overall income of 963. However because of stable income in January, 12 months-to-date the Heavy Duty section continues to be tracking in positive territory, simply, 0.2 in keeping with cent up on this time remaining 12 months. An overall of 1,732 Heavies was sold year-to-date, this is 3 vans more than to the end of February ultimate year.
Medium Duty phase sales had been down again in February, with a total of 546 truck deliveries for the month, this compares to 589 gadgets in February 2018, a loss of 7.3 consistent with cent (-43 trucks) for the month. This bad February result has seen the Medium Duty section slip further behind inside the year-to-date tally of 2019, with a total of 982 deliveries in 2019 as compared to at least one,026 sales to the give up of February 2018, down three.9 percent (-40 trucks).
The ‘little’ truck (and van) market has been off to an especially slow beginning to the year. Light Duty truck income had been down in January, falling even also behind 2018 income in February. 874 Light Duty trucks have been sold within February; this compares to 936 sales for the equal month in 2018. That represented a fall of 6.6 in line with a cent for the month, sixty-two fewer vans offered. Year-to-date the Light Duty truck phase is performing even worse, down 7. Three percent, with overall income for the first two months of 2019 of one,465 vans. That is 116 fewer deliveries than for the same period ultimate yr.
February noticed Light Duty Van income keep to cut back when in comparison to 2018 outcomes. Total van sales in February were 444, down 11.7 in step with cent (-fifty nine vehicles) for the month. The bad February income, on the again of a slow start in January, has impacted the year-to-date numbers in the Van section, which is now five.8 percent (-52 vehicles) at the back of the sales to the quit of February 2018. A general of 840 Light Duty Vans have been brought in 2019; this compares to 892 grants to the stop of February 2018.
“The marketplace is beginning to normalize after higher than anticipated sales in January,” stated TIC CEO, Tony McMullan.
“The accurate January result changed into probably due to the fulfilling of December 2018 orders that had been delayed because of automobile delivery troubles, body builder backlogs and the short working month due to the festive season.
“After January’s income had been realizing, I counseled approximately reading too much into those numbers. The aggregate of January and February income shows the marketplace tracking down at the reported income of remaining year. However, the result is the 0.33 exceptional begin to 12 months on the report. I agree with that due to the volatility visible inside the first months of this year we will have to wait every other month, or, earlier than we can simply gain a feel of wherein the Australian heavy commercial car marketplace may additionally song in 2019,” he said.