Focussing on the sourcing best rates and structuring payments to suit cash flow Business.Finance assists operators to acquire the latest top selling trucks. Many astute operators are looking to upgrade to new vehicles to achieve increased efficiency, reduce operating fuel costs and emissions and improve productivity and safety. Objectives which may be achieved with the latest technology, features and systems on many of the best-selling vehicles on the market.
To find which vehicles are attracting the attention of other operators, buyers can review the monthly and annual sales data as announced through the TIC – Truck Industry Council and reported in industry media. The results of for 2023 and the month of December 2023 were announced recently and show a record for the heavy vehicle sector.
For those interesting in owning the market’s leading brand, look to purchasing an Isuzu. This brand has dominated the sales charts with their comprehensive range across the categories and once again topped the figures in 2023. That makes 35 years of Isuzu sales leadership.
The record total sales for the calendar year may represent many operators taking advantage in the first half of the year of the generous tax advantages of purchasing assets with temporary full expensing or Instant Asset Write-Off. While that accelerated asset depreciation measure is no longer available for most enterprises for major assets, we can structure financing to optimise the available tax benefits of the operator’s choice of credit product.
Leading Brands of Top Selling Trucks
Many operators stay with the same brand while some will change according to the requirements of their operation or other reasons. The sales reports allow buyers to see what brands are out in front in total and in different vehicle segments.
The total figures cover all sales of new vehicles in the light-duty, medium-duty and heavy-duty segments as well as for commercial vans. Across the market, Isuzu Trucks increased its sales on the 2022 figures and leads the market overall.
Hino was the next in total sales across all segments. Fuso recorded a small drop in units sold compared with 2022 but still came in at third in the overall figures. With the impressive sales performance in the heavy-duty segment throughout the year, Kenworth sales placed this popular manufacturer in fourth best-seller.
The remainder of the leading ten manufacturers were Volvo, IVECO, followed by Mercedes-Benz then Scania and UD with the bulldog, Mack, in tenth place on sales. Across the rest of the market the next best-selling brand was DAF which recorded a very good 21% increase compared with 2022. Daf was following in the sales charts by Fiat then Freightline and MAN. Hyundai also recorded in excess of 20% sales increase to come in next.
The remaining rankings included Renault and Western Star, Volkswagen the Dennis Eagle and Foton with SEA and Ford rounding out the reported top brands.
Plenty of data for buyers to start compiling a list of possible vehicles to consider for their next acquisitions.
Kenworth the Top Selling Trucks in Heavy Segment
The heavy category had posted excellent sales figures throughout the year, continuing the 2022 trend of operators upgrading old vehicles and fleets for newer, more efficient and low-emission models. The annual sales gives this segment a record and Kenworth was the leading brand with 20% of the market. Volvo was the next best seller and then overall market leader Isuzu.
Medium Segment Sales Led by Isuzu
With their versatility and suitability to many industries, medium category vehicles are great performers in operation and in sales. This category continues to be dominated by Isuzu, Hino and Fuso. Slightly less than 50% market share went to Isuzu, 29% to Hino and 15% to Fuso. Giving buyers an indication of what other operators have been drawn to.
Light Segment Leading Sellers
The light segment did not record as good a sales performance as the other segments for the year. 45% of the market was captured by Isuzu with Hino, Fuso and IVECO the next best results.
Top Selling Trucks Finance Options
We work with customers to source the best rates on their heavy vehicle funding to assist them achieve their objectives, keep cash flow steady and minimise expenses. Affordable funding is sourced from across our vast lender panel with flexible terms of up to 7 years and negotiated balloons, residuals and buybacks handled by our brokers.
Our portfolio includes truck financing products to suit all set-ups and all types of operators, with Rent-to-Own, Leasing, Commercial Hire Purchase and Chattel Mortgage available. While the tax benefits of Chattel Mortgage with IAWO are off the table this financial year, tax deductions can be realised with all forms of commercial financing. All funding options can suit heavy vehicles in all categories and with all power and fuel systems including hydrogen, electric and traditional diesel.
Operators making 2024 their year to move self-employment with their own heavy vehicle, can speak with one of our brokers about our affordable, workable No Doc and Low Doc commercial heavy vehicle loans.
Contact Business Finance on 1300 000 033 to discuss financing options for top selling trucks for your operation.
DISCLAIMER: THE SPECIFIC PURPOSE IN PROVIDING THIS ARTICLE IS FOR GENERAL INFORMATION ONLY. IT IS NOT INTENDED AS THE SOLE SOURCE OF FINANCIAL INFORMATION ON WHICH TO MAKE BUSINESS FINANCE DECISIONS. BUSINESS OWNERS WHO REQUIRE ADVICE OR GUIDANCE AROUND THEIR SPECIFIC FINANCIAL CIRCUMSTANCES ARE RECOMMENDED TO CONSULT WITH AN ADVISOR OR ACCOUNTANT. NO LIABILITY IS ACCEPTED IN REGARD TO ANY MISREPRESENTATIONS OR ANY ERRORS RE ANY DATA, SPECIFICS, POLICIES AND OTHER INFORMATION AS SOURCED FROM OTHERS.
