Trailer Orders 'Modestly Lower' Than Expectations

Total December trailer orders released by A.C.T. were 12,378 came in "modestly lower" than Bear Stearns' low-end expectations of 13,000-15,000 and down 47% year-over-year (vs. down 46% year-over-year in November).

Dry van orders were 6,910 in December (vs. 9,947 in November), down 48% year-over-year (vs. down 45% year-over-year in November). Flatbed orders were 934 in December (vs. 1,109 in November), down 55% year-over-year (vs. down 49% year-over-year in November).

Dry van builds were 6,919, down 19% year-over-year (vs. down 45% year-over-year in November). Total trailer builds were 12,452 in December, down 21% year-over-year (vs. down 42% year-over-year in November). Dry van backlog-to-build ratios deteriorated 2% year-over-year to 5.1x (vs. year-over-year improvement of 13% year-over-year in November). Total trailer backlog-to-build ratios improved 6% year-over-year in December to 6.3x (vs. up 10% year-over-year in November).

"Remember, there's no emissions cycle in trailers," Bear Stearns said. "As best as we can tell, there's little reason for optimism for trailer demand for the foreseeable future."

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