Reflecting the rapid increase in Australia’s population, which reached a record 25 million yesterday due to migration, almost a decade earlier than projected, Australia’s truck and heavy van sales in July show that 2018 continues to be a booming year for the local industry.
The Australian Bureau of Statistics estimates that the country’s population will reach 26 million in three years’ time, based on current trends.
Every minute, one person arrives to live in Australia, underpinning demand for everything from homes to cars, schools and hospitals, and boosting the country’s economic fortunes.
The rapid increase in migrant numbers has sparked a debate on the economic and social impact of migration given that Australia’s inadequate infrastructure has resulted in clogged cities.
Australia’s freight demands are expected to grow by nearly 50% between 2015 and 2030, according to the Federal Ministry for Infrastructure and Transport.
The overall truck sector (prime movers and cab chassis) result of 3,334 units this July may at first seem disappointing following June’s massive sales of 3,632 units, but compared with the same period last year, the result is a 16.3% increase.
Year-to-date accrual still indicates a record year is on the way with 19,834 new trucks up to the end of July, up 20.9% from the same period last year.
Data on truck and heavy van sales are compiled by Australia’s Transport Industry Council (TIC).