Many business owners and operators have chosen to upgrade their vehicles in recent times, many in response to the generous tax deductions with Instant Asset Write-Off. This trend has seen strong sales in the truck market over the past year especially. Despite the 30 June end to temporary full expensing, truck sales for the year-to-date are still good but the August result was somewhat flat. For buyers in the market to upgrade at the moment, we report on the best selling trucks for August 2023 and the financing options we can offer.
Truck Sales August
Several record months for sales in the truck market have been recorded recently with long-term records smashed in several segments. Not surprisingly, there was a last minute surge in May and June as business owners rushed to finalise their purchase to utilise temporary full expensing before the expiry date. In addition to utilising tax benefits of new vehicles, operators are seen as upgrading to achieve improved efficiency and safety with newer models.
When comparing August this year to last year, the monthly sales were down 0.1%. The YTD figures, however, show a different outcome – up 11.3% in 2023:2022. Whether this will be sustained with no temporary full expensing available for most businesses, will have to be seen. Operators should note that all truck loan options provide tax deductions and extremely cost-effective and affordable financing is available with our better rates.
August’s Best Selling Trucks – Brands and Segments
The brand stakes in sales can be interesting for business operators to watch to understand which manufacturers are selling the most units. The best selling brands are reported across total sales which include all truck segments. So it follows that brands with models in multiple segments will perform better than those that specialise in one market segment only.
Isuzu leads the brand on total sales with Hino second and Fuso in third. Next came Volvo which eclipsed next placed Kenworth in the heavy duty segment. Iveco ranked next followed by Mercedes-Benz then Scania, UD Trucks and Mack Trucks.
Despite the flatter sales results across the market, heavy duty trucks continue their impressive sales roll. Sales for the month were up 7.1% compared with the same month in 2022 and on a YTD basis, the segment recorded a 20.9% lift.
The best selling heavy duty brand was Volvo with Kenworth back to second position. But the sales margin was relatively small – just 16 vehicles the difference between these leading manufacturers. Isuzu came in third followed by Scania and Mack. Next up were Mercedes, UD and DAF with the same number of sales and then Hino and Iveco.
The medium duty category continued an uplift but with less impressive figures than the larger segment. For the month, sales were up 3.6% compared with August 2022 and only 0.1% up on the YTD comparison. The same top 3 brands led this segment in sales with Isuzu the leader ahead of Hino and then Fuso. The remaining leading brands in order of sales results were UD Trucks, Iveco, then Volvo and Hyundai on the same sales figure and finally SEA, Mercedes-Benz and MAN.
Bucking the upward trend was the light duty segment. August 2023 sales are 11.2% less than August 2022. But YTD sales are still on the up by 7.6% in 2022. Isuzu dominates this segment with sales that were double its nearest rival – Hino. The Isuzu sales represent 46% of this segment’s sales for 2023. Fuso was third followed by Iveco and Fiat.
Cost-effective Loans for Best Selling Trucks
To gear up your operation to capitalise on opportunities, we provide cost-effective truck financing options as well as affordable trailer finance for all types of business setups. Affordable loans can be achieved across our finance selection. Jade Finance focuses on sourcing better rates to enable all operators to purchase best selling trucks in all segments with cost-effective loans.
Loans are individually sourced to ensure not only the cheapest interest rate is achieved, but that the terms and conditions are workable for that specific business. Businesses need only select which is the loan option that will suit their accounting and tax approach.
Truck finance options include:-
- Chattel Mortgage Truck Finance
- Truck Leasing
- Rent-to-Own Truck Finance
- Hire Purchase Truck Loans
Startups and new operators can speak with us regarding our Low Doc and No Doc options. These loans for those without financials are sourced through our specialist lenders and affordable rates are achievable.
Use our finance calculator and our current rates to work up estimates to plan your acquisition or call us for a quote. For additional insights, you can also check out finance reviews related to our services.
For quotes on loans for best selling trucks, contact Jade Finance at 1300 000 008
DISCLAIMER: NO LIABILITY IS ACCEPTED IF ERRORS OR MISREPRESENTATIONS ARE FOUND IN THIS ARTICLE. THE ARTICLE IS PREPARED AND PRESENTED FOR GENERAL INFORMATIVE PURPOSES AND IS NOT INTENDED TO BE THE SOLE SOURCE OF INFORMATION FOR MAKING FINANCIAL DECISIONS. THOSE REQUIRING GUIDANCE AND ADVICE SHOULD CONSULT A FINANCIAL ADVISOR.