FTR Transportation Intelligence says September trailer orders are up 30% month over month at 10,142 units, but that's still down 19% year over year.
Orders continue to lag the 10-year September average of 29,890 units, buffeted by weak freight demand, tariff pressure and pricing uncertainty. Cancellations also climbed month over month, hitting 25% of gross orders, mainly pushed by the dry van segment.
[RELATED: ACT’s Ken Vieth gives trailer market forecast at NTDA]
"The U.S. trailer market faces mounting cost pressures and policy uncertainty amid rising global trade tensions, especially with China," says Dan Moyer, senior analyst for commercial vehicles. "Separate from a threatened 100% tariff on all imports from China, the U.S. is imposing, effective Nov. 9, a 100% tariff on imports of certain port cargo handling equipment from China, including intermodal chassis and parts."
The year over year decline this month suggests some buyers are holding off until freight market conditions improve or there is greater clarity regarding trade policy and input costs.
"The Section 232 tariffs on steel, aluminum and copper — explicitly expanded in August to include non-U.S. content in trailers and components — are driving higher input costs, margin compression and consolidation pressures," Moyer says. "Larger, vertically integrated OEMs are better positioned to manage the impact while smaller firms face growing financial strain. Many fleets are delaying replacement, extending equipment life cycles and slowing or stopping expansion."
To date, 2025 net trailer orders total 120,750 units, up 23% year over year and averaging just more than 13,400 units per month, FTR says. It attributes the strength to backloaded demand post-presidential election.
