US Trailer Net Orders Jump in March, with Strength Dry Van-Centric

According to ACT Research, March net U.S. trailer orders of 37,901 units increased more than 40% compared with February and were nearly 28% higher compared with March of 2021. Before accounting for cancellations, new orders of 38,400 grew about 37% compared with February while expanding about 16% compared with March of 2021.

“While total net orders jumped 40% [month over month] in March, the strength was dry van-centric. A 71% sequential surge in dry van net orders accounted for 96% of the total industry month-over-month gain,” Frank Maly, director of commercial vehicle transportation analysis and research at ACT Research, said. “On a year-over-year basis, net orders were up 28%, with a similar story to the monthly results. Dry vans, joined by reefers, provided more than the full market improvement, while the other eight trailer categories totaled [1,100] lower on a year-over-year basis.

“With OEMs rapidly filling available 2022 production slots (both dry van and reefer BL/BU stretch into December at current build rates), we expect orders and production to travel in lockstep until 2023 order boards officially open. When that occurs, fleets likely will rush to formalize commitments that are already under discussion and negotiation.”

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