Trailer orders increased month-over-month in December, according to the latest data from commercial vehicle analysts ACT Research and FTR Intel.
ACT reported a 3,500-unit increase from November, but at 24,300 trailers, December orders still were down 3% year-over-year. Seasonal adjustment lowered ACT’s count to 17,500 units, which is about 17% above November’s seasonally adjusted intake.
“Though past the traditional peak, we’re still in the early stages of the 2025 order season, so this month’s uptick was expected,” Jennifer McNealy, ACT director of commercial vehicle market research and publications, said in a news release. “It’s also no surprise that the data are below the December 2023 intake, given the softer demand recorded throughout this year.
“That said—and despite the improved data in the last few months—Q4 2024 closed with net orders down about 24% compared to intake recorded in the year-ending quarter of 2023. Additionally, this brings the final 2024 net order tally to 163,500 units, down nearly 31% from full-year 2023.
“Notwithstanding the order improvement in Q4 2024, ACT’s expectations for weak trailer demand relative to recent performance remain, as continuing weak for-hire truck market fundamentals, low used equipment valuations, relatively full dealer inventories, and high interest rates impede stronger activity, especially into early 2025. An order uptick showcasing demand, or the lack thereof, depends not just on the first few months of the new order cycle, but on order volumes through Q1 2025 and beyond.”
FTR finds year-over-year uptick, too
FTR similarly recorded a month-over-month increase, with its tally coming in at 11% higher than November; but FTR also reported a 7% year-over-year increase to 25,334 units—the highest monthly net order total since October 2023.
Although net orders recorded positive year-over-year growth for a second straight month, the overall 2025 order season continues to fall short of expectations due to a sluggish truck freight market, FTR added. Total trailer net orders thus far for the 2025 order season (September-December 2024) are down 32% year-over-year to 75,976 units, an average of only 18,994 units per month. U.S. trailer net orders in 2024 totaled 157,085 units, down 27% from the 2023 total.
Total trailer production declined 10% month-over-month in December to 11,827 units, a relatively typical seasonal drop, FTR continued. However, production was down 40% year-over-year—43% below the five-year December average—and was at the lowest monthly output since 2010.
Total trailer production in 2024 was down 29% year-over-year to 223,375 units.
“In December, total trailer net orders significantly outpaced production, increasing backlogs to 104,725 units,” Dan Moyer, FTR senior analyst for commercial vehicles, said in a news release. “The combination of rising backlogs and reduced production month-over-month pushed the backlog/build ratio up to 8.9 months—the highest level since January 2024. While this increase is largely attributed to exceptionally low production levels, it also suggests easing pressure on OEMs to further scale back production in the near term.
“In 2024, North American Class 8 net orders rose 11% year-over-year while U.S. trailer net orders declined by 27% year-over-year. For-hire fleets [and, probably, private fleets, too] have prioritized investments in new power units over trailers, likely driven by reduced profitability or shifts in trade cycles. This trend looks like it is continuing as North American Class 8 net orders are up 8% year-over-year during the 2025 order season so far while U.S. trailer net orders for the same period fell 32% year-over-year.”