Kenworth is an icon of Australian trucking scene and a stalwart of many industries that rely on these rugged, reliable vehicles to transport stock, supplies and materials across the country. Despite many other manufacturers entering the Australian market and many other manufacturing industries closing local operations, Kenworth has survived and thrived. At their Bayswater Victoria plant, the company, PACCAR, has continued production and now celebrates 50 years of manufacturing in Australia.
This significant milestone also coincided with the 70,000th truck rolling off the company’s production line in Bayswater. The event was marked with ceremony at the factory, which was attended by management and staff along with a stellar line-up of Government Ministers, who paid tribute to the company’s longevity and contribution to Australian industry.
Federal Treasurer, Josh Frydenberg noted that the new truck industry in Australia was worth in the vicinity of $3.5b and related economic activity an additional $6b. The Treasurer acknowledged what many Kenworth owners know only too well, the reputation these vehicles have earned for their durability, strength and capabilities. He also noted what all in the trucking fraternity also are well aware of, the critical role that the road freight sector has played in keep the economy supplied during the coronavirus pandemic.
Kenworth History and Heritage
The Kenworth story in Australia began in the 1950s when, after a visit to the States, two Australian truck drivers started imported American-built Kenworth trucks into the country. But what defined these imported vehicles and still defines the business today, is that these trucks were engineered to Australian standards. In the 1970s the local manufacturing facility was established and over the past 50 years, over 60 models have been built and launched in Australia.
While Jade Truck Loans can’t quite match Kenworth’s 50 years, we have been providing cheap truck finance to operators over a very long period and have financed a significant number of Kenworth vehicles.
Significant Role in Economic Recovery
For those who may be harbouring reservations on buying a new truck or holding back on investing, the Treasurer’s comments may give you reason to proceed with that new purchase. At the event, Mr Frydenberg said that the truck industry and Kenworth as a manufacturer, would play a significant role in Australia’s economic recovery in the wake of the COVID-19 pandemic and ensuing recession.
The Treasurer made special mention of several key Government measures, which we also have been highlighting to truck buyers in recent months. He noted the Government’s scheme to support the employing of apprentices, skills investment programs, the tax initiatives and the boost in infrastructure projects, especially road improvements.
All encouraging comments and hopefully signs for investing in a new truck.
60 Kenworth models have rolled off the production line in Australia over the past 50 years and today’s buyers have a large line-up of current models to select from. Current model ranges include:- K200, T360, T410, T610, T659, T909, C5 Series and the Limited Edition Legend 900 Series.
The Legend Series is being produced as tribute to the 50 years and will be available as a limited edition. With limited numbers available, if you are keen to acquire a piece of Australian trucking history, speak with Jade Truck Loans about securing finance for the purchase.
Securing Your Part of History
For the purchase of new Kenworth trucks, Jade Truck Loans offers our full range of finance products, all with our own company trademark and ‘heritage’ – cheap interest rates.
When purchasing a Kenworth, you can select the loan type that will deliver the most significant benefits to your business:-
Just as Kenworth trucks are all individually manufactured here in Australia, Jade individually sources, negotiates and structures every truck loan package for our customers.
As the Treasurer mentioned, tax incentive measures are currently available companies investing in new assets such as trucks. Of particular note is temporary full expensing and IAWO, both available in this financial year for eligible businesses for the acquisition of eligible assets. Check with your accountant or at www.ato.gov.au that your business meets the guidelines. To take advantage of these accelerated asset depreciation tax measures, Chattel Mortgage is seen as the most suitable form of finance.
If you would like to celebrate Kenworth’s milestone with the purchase of a Kenworth Legend Series or any other model in the range, contact Jade and speak with one of our consultants about our finance options. To calculate rough repayment estimates, use our truck loan calculators.
At Jade Truck Loans we join with the trucking and transport industry to congratulate all at PACCAR Kenworth for this remarkable achievement and look forward to many more years of this road freight icon rolling off the production line.
Contact Jade Truck Loans on 1300 000 003 to discuss a truck loan on a new Kenworth truck
DISCLAIMER: THIS INFORMATION IS ISSUED PURELY FOR THE PURPOSE OF GENERAL INFORMATION PROVISION. IT IS NOT TO BE TAKEN AS THE ONLY SOURCE OF INFORMATION FOR BASING FINANCIAL DECISION-MAKING. THOSE REQUIRING FINANCIAL GUIDANCE AND ADVICE SHOULD CONSULT WITH THEIR FINANCIAL CONSULTANT OR ADVISOR. NO LIABILITY IS ACCEPTED FOR ANY MISREPRESENTATION OF POLICIES, DATA OR ERRORS IN THIS CONTENT.