The Australian Road Transport Suppliers Association Institute (ARTSA-i) has released its Q2 2020 heavy vehicle market report.
End of financial year data comparisons (year-to-year comparison) for new registrations of prime movers, trailer and rigid heavy vehicles reveals not only a slow-down in all three sectors but a difference in the levels of each slow down.
Prime movers are 20 per cent below their peak new-registration year of 2018, trailers are down 5.1 per cent compared to 2019, which was a peak new-registration year, and rigids are down 13.9 per cent compared to their 2019 peak new-registration year.
"New trailer registrations appear to be more resilient than the heavy prime mover and rigid sector, when viewed on a year-to-year basis," said ARTSA-i Data analytics Executive Director, Rob Perkins.
"Overall, new registrations in the 2020 financial year have fallen by about 4,000 units, or just over 11 per cent compared to the previous financial year."
As for quarterly comparisons, Q2 results with previous years shows that prime movers, trailer and rigid new registrations are down.
"It has been four years since prime movers and trailers had such a slow second quarter and three years for rigids," said Perkins. "When compared with the record high results of Q2 2018, the latest Q2 results are down by 25 per cent when viewed as a total.
Perkins said the Federal Government tax write-off incentives and commitment to accelerating infrastructure project expenditure is expected to "provide a kick along" for heavy vehicle purchases in Q3 and Q4 2020. "For now, it has been a slow start, but the balance of 2020 might just show an improvement over these first two quarters."