August net US trailer orders of 12,336 units rose nearly 52% from the previous month, but were almost 57% lower compared to August of 2020. Before accounting for cancellations, new orders of 13.4k units were up almost 41% versus July, but 55% lower than the previous August, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report. YTD, net orders for the first eight months of 2021 were up 39%, while new orders grew about 27% compared to the same time period in 2020, which included the COVID-stricken spring data.
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.
“While August net orders increased significantly versus July, that’s an easy comparison to an extremely weak month, and it is obvious that 2022 orderboards have not yet opened,” said Frank Maly, Director–CV Transportation Analysis and Research at ACT Research. He continued, “While last August had some positive impact from earlier COVID-impacted months, it was more than double this year’s pace on a seasonally-adjusted basis.”
Maly added, “The high-volume categories of dry vans and reefers are responsible for the year-over-year weakness, while flatbeds and most other vocational trailer categories are in the black compared to last August. August flatbed orders came in double that of last year.” He concluded, “When orderboards do open for 2022, expect a surge that will quickly consume available production slots. Any relief will occur only when supply chain issues are solved, providing confidence for material and components supply and pricing, something that does not appear likely in the short term.”
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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