New truck registrations in March were down on the same month last year, possibly signalling the first signs of the market slowing from record volumes.

NZTA registration data for March 2024 saw 537 new truck registrations (above 4.5t GVM), down from the March record of 654 registrations set in 2023.

This total monthly figure also brings the YTD total to 1480, which is also down on last year’s total of 1528. The monthly figure of 537 is a decrease of 17.8% on 654 sales from March 2023 while the YTD total is a 3.14% decrease on the record number  achieved in the first quarter of 2023.

In contrast the trailer market is achieving record numbers with 409 new registrations in the first quarter, up from 352 in the same period last year and also ahead of the best previous March result of 384 units set in 2018.

Fuso was the sales leader in the 4.5t to maximum GVM truck market for March with 132 new registrations. However Isuzu, with 106 registrations in March, remains the market leader YTD with 300 registrations ahead of Fuso on 263.

Behind Isuzu and Fuso, the March figures show Scania (173 YTD/57 March) ranking third ahead of Hino (131/46), Volvo (101/26), DAF (94/30), and Kenworth (84/20). UD (73/28) is now ahead of Iveco (68/20), and Mercedes-Benz (61/29) holds its position to round out the top-10.

In the 3.5-4.5t crossover segment, Fiat (54/29) has made a comeback to move into the top spot ahead of Ford (46/26). LDV (42/6), Mercedes-Benz (37/12), Iveco (19/7), Volkswagen (16/12), RAM (15/8), Renault (2/2) and Chevrolet (1/0) are next.

In the 4.5-7.5t market segment Isuzu (106/42) are the clear leaders ahead of Fuso (88/47), Iveco (41/12), Hino (28/8), Foton (25/10), Mercedes-Benz (22/11), Hyundai (15/4) and Chevrolet (14/2).

The 7.5-15t segment sees Isuzu (124/43) ahead of Fuso (102/44), Hino (37/10), Foton (13/5) and Iveco (5/3).

In the small 15-20.5t category Hino (22/10) is the Q1 leader ahead of Isuzu (15/3), Fuso (12/9), UD (9/3) and Mercedes-Benz (4/0)

The ever-shrinking 20.5-23t segment saw just a single registration in the month of March for Scania (2/1) while Fuso and Isuzu both registered one unit earlier in the quarter.

Scania’s impressive 56 registrations for the month of March, and 168 YTD, ensures it retains the top spot in the premium 23t to maximum GVM category. 

Volvo (99/26) continues in number two ranking while DAF (93/30) moves ahead of sister brand Kenworth (84/20). UD (61/25) maintains fifth ahead of Fuso (60/32). Fuso’s strong March sales overtakes Isuzu (54/18) while Hino (44/18), Mercedes-Benz (34/18) and Iveco (19/3) all retain their positions in the top 10.

There is no change at the top of the trailer market with Fruehauf (48/11) holding the top spot. Domett (40/16) however had the best monthly registrations in March to move into second ahead of Roadmaster (38/12).

Next is Transport Trailers (32/12), Patchell (28/10), M.T.E (20/4), TMC (19/6) and Freighter (15/4) who all maintain their rankings. Fairfax (14/8) moves into ninth ahead of Transfleet (12/1) to round out the top-10 manufacturers for the first quarter of 2024.