ACT Research: Industry Backlogs Continue to Grow As February Net Trailer Orders Remain Solid At 24,200 Units
Preliminary reports indicate that February’s net order volume of 24.2k trailers was up 82% from the same month last year. That was also down 21% from January 2021 bookings. Final February volume will be available later this month. This preliminary market estimate should be within +/- 5% of the final order tally.
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.
“Given last year’s COVID-related softer economy, year-over-year improvement for net orders is a foregone conclusion over the next few months. February’s sequential decline in net orders was a bit larger than seasonal patterns would project, but was directionally correct,” said Frank Maly, Director CV Transportation Analysis and Research at ACT Research. He added, “Preliminary results for the month still show that the industry backlog continued to grow in February, reaching the highest point since March 2019. With many OEMs reporting their capacity committed for the year, there may be some reluctance to push the backlog horizon out even further, on both the part of OEMs and fleets.” Maly further noted, “The backlog horizon will be pulled forward in response to higher OEM build rates. February prelims indicate that goal remains elusive, with minimal increases in production rates last month. Our discussions indicate that staffing remains the primary headwind impeding higher production, with component and material supplies also noted as concerns. Fleets want to add more trailers to their operations, but would certainly like more advantageous delivery timeframes.”
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
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