The trucks and trailers market entered the second half of 2026 in clearer recovery mode, with freight-rate improvement, tightening capacity and EPA’s looming 2027 emissions rules combining to lift new equipment demand well above the depressed levels of the prior two years.

Class 8 order activity has been the strongest signal of the turnaround. Preliminary net orders for June reached 31,400 units, up 231% year over year, extending a seven-month run of strong order activity, according to ACT Research. Backlogs rose to a 36-month high in May, and build plans have improved through year-end. Vocational Class 8 demand remains especially resilient, supported by data-center, utility and grid-related investment tied to the broader AI buildout.

Used truck values have been more uneven. ACT’s preliminary June data showed the average retail price for same-dealer Class 8 trucks jumped 5.0% month over month to top $61,000, exceeding seasonal expectations, even as auction pricing fell sharply the prior month. “The significant disconnect in the auction market bears watching,” said Steve Tam, vice president at ACT Research, noting it could signal broader volatility ahead.

On the trailer side, recovery has been slower but real. Preliminary net orders reached 19,400 units in April, up 127% year over year, though first-quarter volume of 55,400 units still ran 9% below the same period in 2025, and backlogs remain more than 20% below year-ago levels. ACT’s Jennifer McNealy noted that net orders have outpaced build for most of 2026, but not by enough to meaningfully rebuild depleted backlogs.

Taken together, tractor demand is recovering faster than trailers, and vocational and data-center-linked segments are outperforming the broader for-hire market. For lenders, that argues for financing structures that account for uneven residual performance across truck and trailer segments, with particular attention to used-equipment pricing volatility and the effects of EPA’s 2027 emissions standards on order timing and equipment values.