News

Jan 20, 2024

October data show US trailer orders continue to rush in

October net US trailer orders of 47,860 units were 83% higher compared to last

October net US trailer orders of 47,860 units were 83% higher compared to last month, +57% on a seasonally-adjusted basis, and 171% above the year-ago October level, according to this month's issue of ACT Research's State of the Industry: U.S. Trailers report.

"Discussions across the past month indicate trailer OEM business conditions, including 2023 demand, material/component supply chain, and labor, are on-par with September, although swinging toward the ‘better’ side of the pendulum," Jennifer McNealy, Director–CV Market Research & Publications, ACT Research, said.

McNealy added, "Demand overall remains healthy, cancellations are low, although we expect some cancel-rebooking activity to occur in Q4, and October's backlog-to-build ratio saw an uptick in tandem with the increase in orders." Regarding October orders, McNealy offered, "October orders were mixed, with some trailer categories up triple digits from September, others down double digits, and a few virtually unchanged. That said, seasonal adjustment does diminish some of the sensational increases." She concluded, "This year's backlogs are filled and build slot availability in 2023 varies widely by OEM but continues to open more fully, which helps explain customers’ ability to place orders at the pace exhibited the past two months."