Seasonally adjusted heavy-duty trailer orders contracted about 6% sequentially, to 14,700 units, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.
Production outpaced orders again in August, dropping trailer backlogs 14% compared to July and 23% versus August 2022, to nearly 136,000 units (156k seasonally adjusted), leaving them at “diminished but still strong levels,” Jennifer McNealy, director–CV market research and publications at ACT Research, stated.
While “clouds on the trailer-market horizon” still bear watching, the market researcher noted that this is the “weakest time of the year” for forward-looking metrics.
“With orders still in seasonal retreat, coupled with the recent near-record order backlogs, this month’s intake met expectations on a consolidated level,” McNealy said.
Total cancels increased to 3.2% of the backlog, from July’s 1.7% level, returning to the May and June levels, ACT Research reported.
“Fleet commitments were somewhat mixed but overall weaker in August than in the previous month,” McNealy said. “OEMs are still reporting that most cancellations are coming from dealers; although, we have been told about model-year cancellation-rebooks as 2024 order boards begin to open and slots get pushed from the old to the new model year.”
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.