FTR reports preliminary trailer orders hold steady in February at 24,600 units

FTR reports preliminary trailer orders held steady in February at 24,600 units, -5% m/m and -4/% y/y. Trailer orders for the past twelve months have totaled 242,000 units.

Orders have tracked in a narrow range for the past 6 months, averaging 25,700 trailers per month. Bookings have exceeded production by about 3,000 units a month during this time, allowing backlogs to increase modestly.

Don Ake, FTR vice president of commercial vehicles, commented, “The tight holding pattern in the industry continues. OEMs are reluctant to book more orders when the supply chain is still clogged. The commercial trailer industry is the most stable it’s ever been.  OEMs will increase production as soon as they can get more parts, components, and workers. When this finally breaks loose, order volumes will jump substantially.

“There is tremendous demand for new trailers and the supply chain crisis has created a severe shortage.  Some previous retired trailers that were being used for storage or drayage are now being refurbished and returned to active duty. Freight growth continues in all segments, so every month the need for trailers intensifies.”