According to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report, June net trailer demand was down, with orders, at 6,300 units, being 19% lower year over year but a mere 275 units above May’s intake. June’s order tally brings Q2/24 net orders to 26,000 units (-14% from Q2/23) and closes the first half of 2024 with 74,500 net orders placed. The first-half tally was 24% lower than the intake of H1/23, with its faster paced order environment, lingering pent-up demand and a still moderately congested supply chain.
“Seasonally adjusted, June’s orders were more than 8,100 units compared to a 7,100 [seasonally adjusted] rate in May,” Jennifer McNealy, director–CV market research and publications at ACT Research, said. “On that basis, orders increased 14% m/m. Dry van orders contracted 56% y/y, while reefers and flats were significantly higher than their respective tepid net order tallies last June.”
“Build outpaced orders again in June, by 15.3k units, with backlogs shrinking more than 14% sequentially. While down considerably m/m, the backlog was significantly lower y/y, down 48% against 2023’s firmer backdrop,” McNealy said. “Despite continual monitoring, little changed in Q2, and despite hopes of the contrary, it was not expected to do so. US trailer manufacturers and suppliers continue to navigate choppy waters, but unlike the past few years, they are on the ebb tide of weaker demand, rather than the flow of congested material supply chains and labor shortages.”
