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Final trailer orders weak in May at 9,500 units

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Jason Morgan is the editor of Fleet Equipment. He has more than 15 years of B2B journalism experience covering the likes of trucking and construction equipment, real estate, movies and craft beer industries.

FTR reports that final net trailer orders sank in May to 9,500 units, 42% below April. Y/Y comparisons were still up 112% versus COVID-impacted 2020 order activity. Van orders were very soft in May but vocational trailers remain sturdy as the industrial sector of the economy picks up steam. Trailer orders for the past twelve months total 368,000.

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The weak order activity reflects OEM’s that are essentially booked for the year and reluctant to quote trailers for 2022 delivery due to a spike in commodity prices and other costs, according to FTR. In addition, some fleets are adjusting their requirements due to extended lead times.

“The market is in a strange place right now in that the bucket for 2021 orders is almost full, but the bucket in 2022 is essentially empty,” said Don Ake, FTR vice president of commercial vehicles. “We expect abnormally low activity until the 2022 order boards are opened. At that point, orders should shoot back up to near-record levels.

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“Freight growth remains robust,” he continued. “Fleets continue to need more trailers than can be produced in the short-term. The supply chain situation improved some in May, but the industry is still scrambling to catch up. The environment is expected to improve in the second half of the year but will still impact the industry well into 2022.”

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