Original equipment manufacturer Isuzu has released its latest ‘The Future of Trucking’ report which analyses changing trends in the nature of the Australian truck buying sector and the behaviours behind it.
Work on the report commenced in mid-2023 and utilised survey data collected from over 1300 Australian stakeholders across the trucking and road transport sector who hailed from a range of industries and fleet sizes. Isuzu recently celebrated 35 consecutive years as Australia’s truck market leader.
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59 per cent of those surveyed travel between 200,000 and 999,000 kilometres per year. The most well-represented industry in the survey was construction with 23 per cent, followed by transport, postal and warehousing at 21 per cent.
Every Australian state and territory are also represented amongst the respondents.
Key takeaways from the report include how the industry expects to navigate a rapidly changing landscape over the next three years with the introduction of new technologies, regulations and operational requirements, an expectation for huge increases in Australia’s freight task, and the continuing challenges of rising fuel prices and trimmed profit margins on business.
Isuzu Australia Limited Chief of Sales and Aftersales Ben Lasry says “change” is the key theme that emerges through the report.
“If the current state of Australia’s road transport industry and related sectors could be distilled down into one descriptor, I’d have to opt for the word ‘change’,” Lasry says.
“Perhaps like never before, the road transport sector is evolving apace across several different fronts. This is evidenced by some of the evidence unearthed in this latest Future of Trucking report.
“The data reveals a changing buyer behaviour trend that is providing a solution to a number of these challenges – that being the purchase of more efficient, safer new trucks. Even more of this group are looking at a turnkey, ready-to-work solution to really optimise business efficiency.
“This is an understandable course of action for many businesses shouldering the weight of the Australian freight task, which continues growing. A sizeable 63 per cent of those hailing from national freight fleets around the country expect the freight task to continue its upward trajectory of demand.”
Although Lasry cites an increasing desire for safer, ready-to-work trucks within the industry, Isuzu’s report has found little change in the tenure of truck ownership.
Operators continue to hold onto their existing trucks for an average of six years before replacement, with that figure increasing for larger fleets. For heavy-duty and prime mover trucks that figure further increases to replacement every 7.2 years.
71 per cent of survey respondents did, however, indicate a preference for pre-built trucks as opposed to custom-built or used trucks.
Isuzu Australia Limited Head of Sales Craig White says maintenance cost continues to be the biggest driver for the type of truck sold.
“The single biggest driver of buyer behaviour in the Australian truck parc is maintenance cost,” White says. “After all, trucks are a working tool of the trade – a means to an end.
“Our most recent data paints the picture of an extremely smart, business savvy Australian truck buyer who is looking for a transport partner, not just a retailer of goods.
“The challenge remains then for customers to balance the most cost-effective and efficient solution, backed by the right ongoing support.”
To view the full Future of Trucking report, click here.
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