June net US trailer orders of 10,952 units grew nearly 18% from the previous month, but were almost 20% lower compared to June of 2020. Before accounting for cancellations, new orders of 13.1k units were up more than 7% versus May, but down 19% from the previous June, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report.
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.
“Despite sequential improvement, net orders continue to be diminished by a ‘pause’ in order acceptance at several OEMs. However, that pause was not universal, as reefers surged 90% from a very lackluster May,” said Frank Maly, Director–CV Transportation Analysis and Research at ACT Research. He cautioned, “Without that support, total industry volume could easily have posted a net order decline to close the quarter. The industry also posted the first year-over-year decline in net orders since May of 2020, the end of the COVID-induced order retrenchment last year.”
Maly added, “The ratio of trailer orders to truck orders, shown in the graph, is an indicator of the degree of impact the order pause is generating. Normally ranging around 1.5, the trailer/tractor net order ratio started Q2 just below 1.0 and plummeted to approximately 0.65 at quarter’s end.” He concluded, “This is an indication of pent-up demand that likely will be quickly addressed when orderboards officially open for 2022.”
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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