COLUMBUS, Ind. — October net trailer orders in the U.S. were at 16,900 units — up 40% from September but down 52% from October 2023, according to ACT Research’s State of the Industry: U.S. Trailers report.
“Cancellations moved lower in October, below 1% of backlog, for the first time since November 2023,” said Jennifer McNealy, ACT’s director of commercial vehicle market research and publications at ACT Research.
“The cancellation rate has oscillated at elevated levels, between 1.2% and 3.6% throughout 2024,” she said. “In the present environment, the challenge is that while quotation activity is happening, order placement remains tepid to date.”
According to McNealy, the data shows that macro-facing industry segments are being particularly hard-hit, and the industry is much more competitive than the past several years.
“Simultaneously, strong Class 8 equipment purchases continue to oversupply the market, thereby dampening for-hire freight rates and limiting capex for new trailers,” she said.
What will it take for the U.S. trailer industry to see a return to normal?
“Trailer manufacturers have indicated that one of the pivot points needed to get the sales environment back on track was to move beyond the US presidential election,” McNealy said.
“While that milestone has been reached, the ramifications of that event remain unknown, and there are several other signposts that have not yet been realized, including freight demand/rate improvements, interest rates (lower capital costs), used trailer valuations, improved consumer confidence and better industrial activity,” she concluded.
