New US trailer orders of 15.5k were down 16% month-over-month, but after accounting for cancellations, net orders slid to 10.5k units, down 28% from April, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report.

Year-to-date, net orders are 40% below last year. Near-record backlogs have filled 2019 build slots for many OEMs, and there continues to be resistance toward booking orders into next year, resulting in the order volume contraction.

“We’re now running into very difficult year-over-year comparisons, as OEMs are generally unwilling to accept orders for 2020,” said Frank Maly, director of CV Transportation Analysis and Research at ACT Research. “We hear that some OEMs may open their 2020 orderboards in June; if so, expect better comparisons in the months ahead.”

Additionally, Maly said, “However, given market pressures of strong capacity growth in the face of a slowing economy and tariff uncertainties, the anticipated order surge may not be as robust as many may assume.”