Trailer orders drop significantly in November

Trailer orders drop significantly in November

Orders were down 38% month-over-month, and 45% versus November 2022.

FTR reports that November U.S. trailer net orders fell by more than 13,000 units to 21,362 units. Orders were down 38% month-over-month, and 45% versus November 2022. Trailer orders were 7% above the current average for 2023. The number of trailers ordered over the last 12 months decreased to just above 276,700 units.

Trailer production was 23,770 in November, down 12% m/m and -9% y/y. Build was lowest since last year, but a drop in production after October is normal, and the average monthly build is still healthy at more than 27,200 units.

“With orders coming in under production levels, backlogs in November fell slightly, shedding almost 2,500 units to end at just over 140,000 units,” said Eric Starks, FTR’s chairman of the board. “The more pronounced fall in production resulted in an increase for the backlog-to-build ratio to 5.9 months. This ratio is in line with the historical average prior to 2020 and suggests the industry is moving towards a pre-pandemic level of stability.”

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