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Truck market remains slow

Truck market remains slow

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New truck registrations during July were again behind last year’s record numbers and the 2024 market is now running 7.5% behind the first seven months of last year.

New registrations totalled 446 units in July, taking the year-to-date (YTD) total to 3,275 units. In comparison registrations were 496 units in July 2023 and 3,544 for the January-July period last year.

The YTD tally of 926 trailer registrations is still down 8.8% on 2018 year-to-date total of 1017 trailers, but is a healthy 49 registrations ahead of the 877 units registered by July 2023 and is the second best Jan-July total on record.

In the wider economics of new vehicle sales the decline in truck sales continues to be significantly less than is being experienced by the Light Passenger segment – which  is the hardest hit and is down by 29% YTD from 2023.

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New truck registrations during July were again behind last year’s record numbers and the 2024 market is now running 7.5% behind the first seven months of last year.

New registrations totalled 446 units in July, taking the year-to-date (YTD) total to 3,275 units. In comparison registrations were 496 units in July 2023 and 3,544 for the January-July period last year.

The YTD tally of 926 trailer registrations is still down 8.8% on 2018 year-to-date total of 1017 trailers, but is a healthy 49 registrations ahead of the 877 units registered by July 2023 and is the second best Jan-July total on record.

In the wider economics of new vehicle sales the decline in truck sales continues to be significantly less than is being experienced by the Light Passenger segment – which  is the hardest hit and is down by 29% YTD from 2023.

Isuzu retains the top spot in July’s overall truck market (4.5-tonne GVM and above), registering 68 units and boosting its YTD tally to 680.

Fuso (YTD 575/July 62) remains in second, well ahead of Scania (375/50). Hino (339/62) retains fourth position and Volvo (221/52) holds fifth ahead of DAF (180/17) and Kenworth (173/25). Mercedes-Benz (140/17) and Iveco (140/23) are tied in eighth ahead of UD (131/17) completing the top 10.

In the 3.5-4.5t crossover segment Fiat (187/37) remains dominant ahead of fast-emerging LDV (141/20), Ford (111/9), Mercedes-Benz (79/9), Volkswagen (48/10), and Ram (23/1). The rise of LDV in this segment continues to be spectacular, from a total of just 9 registrations in the same Jan-July period last year.

Top of the 4.5-7.5t category is still Isuzu (235/24), continuing to extend its lead YTD ahead of Fuso (204/18) and Hino (75/19). Next are Iveco (74/12), Mercedes-Benz (63/8) and Foton (55/10).

In the 7.5-15t division, Isuzu (271/31) is extending its lead ahead of Fuso (191/21) with Hino (97/15), Foton (35/8), Iveco (19/9) and Hyundai (7/1) all retaining their positions.

In the 15-20.5t segment, Hino (55/11) continues to lead over Isuzu (47/2), Fuso (39/5) and UD (22/4).

There was very little activity in the ever-shrinking 20.5-23t segment with one registration this month for Scania. Scania (5/1) is followed by Fuso (3/0) and Isuzu (2/0).

In the premium 23t-maximum GVM division, Scania (365/48) is standing firm in the number one position well ahead of Volvo (219/52).

However Volvo were the stand out for the month achieving 52 registrations. DAF (178/17), Kenworth (173/25), Fuso (138/18) Isuzu (125/11), Hino (111/17), UD (103/12), Mercedes-Benz (67/7) and Iveco (38/1) all held their positions to round out the top 10.

In the trailer market, the clear leader again for the month of July was Fruehauf with 16 new registrations ahead of Patchell with 13.

The YTD figures see Fruehauf (128/16) edging ahead of second placed Domett (98/10). Roadmaster (81/11) holds third while Patchell (61/13) moves ahead of Transport Trailers (60/9) to take fourth position.

TMC (54/9) retains sixth place ahead of MTE (43/3), Fairfax (32/2), Transfleet (30/2) and CWS (27/7) to round out the top-10.  


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