ACT Research: Preliminary October Net Trailer Orders Jump as 2023 Orderboards Open More Fully
Preliminary reports show net trailer orders in October were 46,750 units, up 82% from September, and 168% higher than the same month last year. Final October results 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, trailer OEMs, and suppliers to better understand the market.
“With more 2023 orderboards opening, October net orders continued their upward trend,” said Jennifer McNealy, Director CV Market Research & Publications at ACT Research. She added, “With the supply-chain constraints improving for trailer manufacturers, as well as their increasing nimbleness in meeting and mitigating those challenges, OEMs are more comfortable accepting orders, and this month’s preliminary data demonstrates that.” McNealy concluded, “Demand remains strong. With backlog-to-build ratios above the 7-month mark, on average, fleets needing trailers are getting in queue and staying there.”
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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