FTR reported nearly identical figures last week, with 31,800 orders and an increase of 71 percent over September.
ACT reports volume was 42 percent below last year, but slightly above the same month in 2017. Year-to-date, net orders are off 52 percent from the “torrid pace” of 2018.
Before accounting for cancellations, new orders of 37,500 trailers were up 73 percent from September, but 34 percent below last year.
“After a lackluster summer, order volume has now surged for two straight months, and is tracking more in line with historic seasonal order patterns,” says Frank Maly, ACT director, commercial vehicle transportation analysis and research.
“October order strength was highly concentrated in dry vans, where orders were more than two times that of September. A counterpoint to the net order surge was continuing elevated cancellations, occurring in both dry vans and reefers,” Maly says. “Since we are approaching year-end, it is likely that cancellations are due to a combination of several factors. Some placeholder orders are likely being cleared from the system and it is also likely some production is being shifted into early 2020, either at OEM or fleet request.”
Final volume will be available later this month. This preliminary market estimate should be within +/- 3 percent of the final order tally, ACT reports.
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.
