Moderate growth figures expected for SA truck market

© Dmitry Kalinovsky – 123RF.com

The year-to-date figure also slowed down to a 1.37% growth rate.

"One of the major contributors to negative performance of the total truck markets is the significant 21.33% decline in sales in the extra heavy commercial vehicle (EHCV) segment," said Rory Schulz, acting managing director of UD Trucks Southern Africa. "We also came off a very high base in October, which provided a slighted skewed perspective for month-on-month sales analysis."

On a year-to-date basis, the EHCV segment is still outperforming the 2013 results, recording 7.03% growth over the period to reach 12,868 units so far this year. Sales in the medium commercial vehicle segment is down on a year-to-date basis, by 5.97%, and currently stands on 10,001 units. The heavy commercial vehicle segment has grown slightly by 0.46% to 4,981 units, while bus sales increased significantly, by 16.14% to reach 1,137 units so far this year.

Conservative outlook

"In spite of some positive economic indicators showing a recovering economy, the outlook for the rest of 2014 and 2015 remains conservative with the market expected to post flat to moderate growth figures," explained Schulz.

UD Trucks had another good month during November, with a total of 287 vehicles sold, pushing the company's year-to-date figures to 3,110 units, which is 31 units more than the total sold in 2013.

Although all segments are showing a month-on-month decline from the record 399 units achieved by UD Trucks in October, the year-to-date growth is an impressive 8.48% compared to the 1.37% for the total market.

Quon sales grew by 24.76% year-to-date November 2014, compared to the 7.03% growth recorded for the total EHCV segment. UD Trucks' HCV slightly declined 3.15% year-to-date according to market trends, but maintained its first position with a 29.27% market share.