FTR: March trailer production, orders down year-over-year

FTR: March trailer production, orders down year-over-year

FTR says trailer production dropped 21% y/y, March orders were down 18% y/y and 25% below the average for the last 12 months.

FTR reports that March trailer orders fell 7,659 from February (-38% month-over-month) to a total of 12,313 units. Orders were down 18% year-over-year and 25% below the average for the last 12 months. Meanwhile, trailer production increased by less than 1% m/m in March to 23,505 units, and was was down 21% y/y. FTR says this build number is in line with the average production level seen over the past three years.

“With orders coming in below production levels, backlogs in February fell somewhat, shedding more than 11,500 units to end at more than 151,000 units,” said Eric Starks, FTR chairman of the board. “The increase in production coupled with the fall in backlogs resulted in some reduction in the backlog-to-build ratio, which stands at 6.4 months. This ratio is slightly below the average level for the last half of 2023 but is above the historical average prior to 2020. The current ratio suggests that, overall, trailer manufacturers have little incentive to alter production levels in the near term.”

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