February’s preliminary net trailer orders increased sequentially, but were lower against longer-term comparisons, with 25,800 units (25,600 seasonally adjusted) projected to have been booked during the month, according to ACT Research’s State of the Industry: U.S. Trailers report. This preliminary market estimate should be within +/-5% of the pending final order tally.
“Preliminary net orders were more than 6% higher compared to January’s intake, but about 5% lower against the same month last year,” said Jennifer McNealy, director CV market research and publications at ACT Research.
ACT Research attributed the year-over-year decline to backlog length, with trailer backlogs at the start of 2023 50,000 units above year-ago levels. February’s preliminary data show orders for dry vans and platform trailers driving the sequential uptick, McNealy noted.
“While demand remains strong, we’re also seeing improved, albeit still challenged, build data,” she said. “While we are still waiting for February data, January’s backlog-to-build ratio, a proxy for industry demand strength was nearly 10 months, roughly double the historical average. That means fleets needing trailers will need to maintain their patience.”
Further, the trailer backlog should decrease by around 1,100 units when complete February data are released, McNealy suggested.
ACT Research’s State of the Industry: U.S. Trailers report provides a monthly review of the current US trailer market statistics, as well as trailer OEM build plans and market indicators divided by all major trailer types, including backlogs, build, inventory, new orders, cancellations, net orders, and factory shipments.