US trailer order placement continues to be choppy

US trailer order placement continues to be choppy

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 and publications, ACT Research. “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.

“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,” McNealy added. “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.”

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. It is accompanied by a database that gives historical information from 1996 to the present, as well as a ready-to-use graph packet, to allow organizations in the trailer production supply chain, and those following the investment value of trailers, trailer OEMs, and suppliers to better understand the market.

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