October net US trailer orders of 54,691 units posted another sequential improvement, up nearly 7% from September’s rise and well above October 2019’s level (up 70%). Before accounting for cancellations, new orders of 57k units were up 9% versus September and 52% better year-over-year, 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 and trailer OEMs and suppliers, to better understand the market.
“September net orders were the third best in industry history, a short-term rank quickly displaced by October’s volume of almost 54,700 net orders,” said Frank Maly, Director–CV Transportation Analysis and Research at ACT Research. He added, “The majority of the total uptick was driven by the highest dry van net order month in industry history, and the majority of the surge in dry van orders was driven by large fleets.”
Maly continued, “Demand appears to cross a wide spectrum of customers, including for-hire and private fleets, likely buttressed by the growth in e-commerce and some dealer stocking commitments for next year.” He concluded, “This is leading to timely production slots rapidly being filled, which generates a demand ‘feedback’ loop, as other fleets, seeing availability lengthen, are also jumping into the market.”
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.