Preliminary reports show trailer OEMs posted 8,800 net orders in May, off 39% versus April, but almost 170% better than the COVID-impacted level last year. Final May volume will be available later this month. This preliminary market estimate should be within +/- 5% of the final order tally.
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 and trailer OEMs and suppliers, to better understand the market.
“The sequential decline in net orders was no surprise, as the impact of supply and staffing headwinds overcame continued strong market demand. With industry backlogs for dry vans and reefers extending well into next year, OEMs are reticent to continue to book orders that would further extend their delivery horizons. Some fleets may be unwilling to extend their commitments, as well. The combination of those concerns generates headwinds to additional order placement, and accentuates the seasonal softness that normally occurs in late spring and early summer,” said Frank Maly, Director CV Transportation Analysis and Research at ACT Research. He also noted, “While these early reports indicate that OEMs did improve production rates in May, the increase was not as strong as they would prefer. Until meaningful increases in build rates can be attained, expect order acceptance by OEMs to remain somewhat restrained.”
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
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