COLUMBUS, Ind. – Orders for trailers dropped sharply in the month of June.
According to ACT Research, June net trailer orders, at 6,300 units, were 19% lower than this time last year, however, orders were 275 units above May’s intake. June’s order tally brings net orders in the fiscal year’s second quarter to 26,000 units which is a 14% drop from the second quarter of 2023. and closes the first half of 2024 with 74.5k net orders placed, according to ACT Research.
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.
The first-half tally was 24% lower than the intake of the first half of 2023.
A faster paced order environment, lingering pent-up demand, and a still moderately congested supply chain, were mitigating factors according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.
“Seasonally adjusted, June’s orders were more than 8,100 units compared to a 7,100 SA rate in May,” said Jennifer McNealy, Director–CV Market Research & Publications at ACT Research. “On that basis, orders increased 14% m/m. Dry van orders contracted 56% y/y, while reefers and flats were significantly higher than their respective tepid net order tallies last June. Build outpaced orders again in June, by 15.3k units, with backlogs shrinking more than 14% sequentially. While down considerably m/m, the backlog was significantly lower y/y, down 48% against 2023’s firmer backdrop.”
McNealy concluded, “Despite continual monitoring, little changed in Q2, and despite hopes of the contrary, it was not expected to do so. US trailer manufacturers and suppliers continue to navigate choppy waters, but unlike the past few years, they are on the ebb tide of weaker demand, rather than the flow of congested material supply chains and labor shortages.”
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
