ACT Research: October Data Show US Trailer Orders Continue to Rush In
October net US trailer orders of 47,860 units were 83% higher compared to last month, +57% on a seasonally-adjusted basis, and 171% above the year-ago October level, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.
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, trailer OEMs, and suppliers to better understand the market.
“Discussions across the past month indicate trailer OEM business conditions, including 2023 demand, material/component supply chain, and labor, are on-par with September, although swinging toward the ‘better’ side of the pendulum,” said Jennifer McNealy, Director–CV Market Research & Publications at ACT Research.
McNealy added, “Demand overall remains healthy, cancellations are low, although we expect some cancel-rebooking activity to occur in Q4, and October’s backlog-to-build ratio saw an uptick in tandem with the increase in orders.” Regarding October orders, McNealy offered, “October orders were mixed, with some trailer categories up triple digits from September, others down double digits, and a few virtually unchanged. That said, seasonal adjustment does diminish some of the sensational increases.” She concluded, “This year’s backlogs are filled and build slot availability in 2023 varies widely by OEM but continues to open more fully, which helps explain customers’ ability to place orders at the pace exhibited the past two months.”
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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