Slattery Asset Advisory has just released their Quarterly Remarketing Report that has shown in the past quarter:

  • The Road Transport Sector continues to reduce in sales volume but shows some semblance of stabilisation after a reduction of only 13% on the same period last year.
  • Delays have been extended on new stock with global production capacity reduced.
  • With almost all Australian businesses now eligible for a full write-off of asset purchases manufacturers supplying business assets across road transport, automotive and machinery are seeing some rebounds in certain sectors.
  • Agricultural equipment sales have continued to thrive during the third quarter, which is being driven by good seasonal weather conditions, low-interest rates, high commodity prices and tax incentives.
  • The automotive sector saw year to date sales reach a total of 811,464 vehicles sold, with an overall market decline of 21.8%.

 

Road Transport Key Point Summary

  • Third quarter has seen signs of stabilisation in the road transport market after a reduction of 13% on the same period last year.
  • After three months of consecutive reductions in sales volumes for the heavy-duty market, September results returned to more positive territory.
  • The light duty truck market outperformed both the heavy and medium duty truck market in the third quarter

 

Automotive – Key Point Summary

  • New vehicle sales continued to struggle across the country in the third quarter, with Victoria being the worst performing state.
  • States that have virtually eradicated COVID-19, saw vehicle sales increase during September.
  • Secondary car market sales remained strong, however have been impacted by the lack of stock available on the market.

 

Agriculture – Key Point Summary

  • The agriculture equipment sales sector has been driven by good seasonal weather conditions, low interest rates, high commodity prices and government tax incentives. 
  • New South Wales saw the largest increase in new tractor sales throughout the quarter.
  • Secondary agriculture equipment sales continue to remain strong due to strong environmental conditions.

 

Mining and Earthmoving – Key Point Summary

  • Caterpillar Inc. saw profits in the third quarter decline by 63% in comparison to the same period in 2019.
  • Results for equipment sales have been a mixed bag, with Victoria being the worst performer.
  • Auction results have remained strong for equipment sales in the secondary market.

 


To view the full report and sign up to the Quarterly Asset Remarketing Report click here