November net trailer orders, at 20,800 units, were up 23% from October, but 4% below the level accepted in November 2023, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.
“November’s trailer orders bring YTD activity to 139.1K units, down 34% from YTD November 2023’s 211.0K bookings, competing against a better 2023 order environment, lingering pent-up demand, and modest supply chain congestion. Order weakness exhibited in 2024 is made worse when viewed relative to 2023’s fuller backlogs,” Jennifer McNealy, director – CV market research and publications at ACT Research, said. “For the first time in nearly a year, order intake outpaced build, and by about 6,700 units. As a result, backlogs expanded almost 11% sequentially in November. While quotation and order activity have increased seasonally, the challenge is that data continue to tell the story of macro-facing industry segments being particularly hard hit, with OEMs struggling to keep current operations intact, against a much more competitive landscape compared to the past several years as the entire industry competes to book business. Simultaneously, strong Class 8 equipment purchases continue to oversupply the market, thereby dampening for-hire freight rates and limiting capex for new trailers.”
