July net orders of 12,739 units were down 17% month over month, according to the latest State of the Industry: U.S. Trailers published by ACT Research (ACT).
“July net orders at a seasonally adjusted annual rate were a disappointing 201,000 units,” said Frank Maly, director of commercial vehicle transportation with ACT Research. “As we noted last month, production levels continue at rates well above new order intake. While the manufacturers did adjust their build rates in July, without some additional order support, further modification could be needed to keep the backlog to build ratio at an acceptable level.”
One positive note is that cancellations continue to be low, indicating that equipment on the order boards is truly needed.