U.S. trailer net orders fell by more than 13,000 units, or 35%, month over month to 21,362 units in November, according to an FTR Intel report.
Orders decreased by 45% compared to November 2022, but they remained 7% above the 2023 average, FTR added.
Trailer production hit 23,770 units in November, down 12% month-over-month and 9% year-over-year. New builds were the lowest since last year but a drop in production after October is normal, FTR said, and the average monthly build is still healthy at more than 27,200 units.
“With orders coming in under production levels, backlogs in November fell slightly, shedding almost 2,500 units to end at just over 140,000 units,” Eric Starks, chairman of the board, said in a news release. “The more pronounced fall in production resulted in an increase for the backlog-to-build ratio to 5.9 months.
“This ratio is in line with the historical average prior to 2020 and suggests the industry is moving toward a pre-pandemic level of stability.”