Read our Quarterly Report for Q3 2019Posted 22 November 2019
The third quarter of 2019 has seen declines in key market sectors continue although there were a few outliers that bucked the trend of declining new asset sales
Full report online now. The quarter, in short, can be found below:
- Our Valuation team have had a busy quarter, a review of the business shows that valuations for lending purposes continue to dominate.
- We continue to see the decline in the new Truck sales market due to the oversupply of trucks throughout 2018 and the downward pressure on operators to reduce their margins.
- Volvo is the flavour of the quarter in the heavy-duty truck sector bringing their year to date total to 1,656 just 50 trucks behind market leader Kenworth.
- Caterpillar Inc is reporting a 6% decrease in revenue across their business. The Caterpillar construction industries for Asia Pacific have reported a 29% decline in sales in the third quarter.
- The TMA (Tractor and Machinery Association) has reported that confidence in the sector remains low, however, there has been a reasonable amount of deals happening with dealers looking to sell equipment at less margins than we normally see.
- Year-to-date, the motor vehicle market is sitting on 811,464 registrations, down 7.9 per cent compared to the same point in 2018
- Passenger cars are down 18.3% and light commercial vehicles have been down 5.4% for the quarter. The only rise in vehicle sales over the quarter is in the SUV segment which is up by 1.1%.