FTR reports preliminary trailer orders surged last month, rising to 36,200 units, the highest single month since December 2020. FTR says March's total was up 41 percent month over month and 29 percent year over year. The company also says trailer orders for the last 12 months have now totaled 252,000 units.
ACT Research also reported a major spike in trailer orders this week to 37,900 units.
FTR says most major trailer OEMs registered sturdy numbers for the month, showing significant increases versus the past six months. The company also reports March's strong total is expected to raise backlogs over the 200,000-unit mark for the first time since May 2021.
"This is great news for the trailer market. Most of the big OEMs were stuck in a holding pattern on orders since the supply chain tightened. The fact they have the confidence now to enter more orders may indicate that supplier deliveries are showing improvement, and labor shortages are abating," says Don Ake, FTR vice president of commercial vehicles.
"It is uncertain if this level of orders can be sustained. However, it does signal an expectation that build rates could increase later this year. Because OEMs had their output limited by the supply chain, we estimate that pent-up demand for trailers could be as high as 100,000 units. It will take an extended time for OEMs to catch up with fleet requirements once the supply chain opens up."
