Key Market Indicators
Australian commercial vehicle registrations are projected to climb to approximately 3.06 million units by 2028, up from about 3.04 million units in 2023. This marks an average annual growth rate of 0.1%. Since 2010, the Australian market has seen a robust increase of 65.2% year on year. In 2023, Australia ranked sixth in commercial vehicle registrations, with China taking the lead at 3.04 million units. Canada, Mexico, and Argentina occupied the second, third, and fourth spots, respectively. In terms of production, Australian commercial vehicle output remained stagnant at zero units in both 2021 and 2022. This represents a 100% year-on-year decrease since 2002, underscoring a significant decline in domestic supply. Diesel truck sales in Australia are expected to fall to nearly $1.95 billion by 2028, down from around $2.17 billion in 2023. This represents a compound annual growth rate (CAGR) decline of 1.7%. The demand for diesel trucks has been decreasing at an annual rate of 1.6%. In the global ranking for diesel truck sales, France, Italy, and Germany occupied the second, third, and fourth positions, respectively.
