ACT: U.S. Trailer Net Orders Dropped 97% M/M, 99% Y/Y
MAY 22, 2020 - 6:45 am
April net U.S. trailer orders of 209 units were down 97% month-over-month and 99% below the previous year. Before accounting for cancellations, new orders of $5.7 thousand units were down 57% versus March, according to this month’s issue of ACT Research State of the Industry: U.S. Trailer Report.
“It is difficult to comprehend a report of 209 net total trailer orders in April,” said Frank Maly, director–CV Transportation Analysis and Research at ACT Research. “By far the weakest monthly net order volume in industry history, April was disturbingly close to a net negative order month, and even new order volume of just under 6,000 trailers was the fourth worst month since 1990.”
Maly continued, “Several discussions regarding April included comments indicating that the shift in fleet investment plans was abrupt, and more concerning were the comments that fleet confidence continued to worsen in May, with recent descriptions depicting the market as the worst ever experienced. The surge in freight volumes that came from critical goods movement and what could easily be termed consumer ‘panic buying’ is done, and fleets perceive that shift.”
Maly concluded, “Large fleets remain on the sidelines, and financial pressures will likely push many small and medium fleets entirely off the playing field, leaving some very challenging months ahead.”
Additionally, the report noted that ACT Research has created an easily accessible webpage to track noteworthy high frequency macroeconomic and transportation-specific market indicators.
ACT Research’s State of the Industry: U.S. Trailers report provides a monthly review of the current US trailer market statistics, as well as trailer OEM build plans and market indicators divided by all major trailer types, including backlogs, build, inventory, new orders, cancellations, net orders, and factory shipments. It is accompanied by a database that gives historical information from 1996 to the present, as well as a ready-to-use graph packet, to allow organizations in the trailer production supply chain, and those following the investment value of trailers and trailer OEMs and suppliers, to better understand the market.
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!
Bankruptcy filing statistics are important, but they only scratch the surface when it comes to assessing overall trends in the world of distressed businesses. Gregg Morin identifies some of the other metrics that matter and delves into what they’ve shown... read more
Robert Preville is a serial entrepreneur and investor constantly on the move, having founded and led several high-growth companies in the B2B arena before leading APPROVE, an embedded finance software. Earning this year’s Disruptor Icon award, Preville’s approach to leadership... read more