US Trailer Order Placement Continues to be Choppy

ACT Research Reports June net US trailer orders of 25,444 units were 31% higher compared to last month

June net US trailer orders of 25,444 units were 31% higher compared to last month, and nearly 122% above the year-ago June level, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report.

“Order placement remained choppy in June, with dry van and bulk tank net orders sequentially increasing by double digits and responsible for the total industry uptick. On the other hand, reefers and flats saw double-digit drops compared to May’s net order levels,” said Jennifer McNealy, Director–CV Market Research & Publications at ACT Research. She continued, “OEMs continue to negotiate with fleets, and as some 2023 orderboards have opened, those efforts are quickly moving from staged/planned orders to booked business.”

McNealy added, “While some OEMs have opened part of their 2023 build slots, discussions indicate that others are holding to their plans to wait just a bit longer. Trailer manufacturers continue to face supply-side challenges, material availability and labor, but are now reporting improvements in both.” She concluded with a discussion about demand and backlog, stating, “Demand remains strong, despite increased pricing, and cancelations, although ticking upward, are insignificant, as fleets in queue need the equipment and plan to stay in queue until orders are converted to deliveries. The industry closed June with a 7.6-month backlog-to-build ratio, which commits the industry, on average, into early 2023.”

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