Despite a 26% decline in total U.S commercial trailer net orders in June from May, industry backlog is still more than double the level of one year ago, according to ACT Research Co. (ACT).
June’s decline was the third consecutive monthly decline. In combination with an increase in trailer production, industry backlogs fell 5% month-over-month. The industry orderboard ended June at 97,000 units.
This update on industry performance was reported in the latest State of the Industry: U.S. Trailers published by ACT.
“The fall-off in net orders was greater than anticipated,” said Frank Maly, Director CV Transportation Analysis and Research with ACT. “A positive factor to keep in mind is that cancellations of existing commitments on the orderboards were not an issue; new order weakness was the cause. We are in a seasonally low time of the year for new-order placement. Fleet order rates will need to be closely monitored over the next couple of months to determine if the recent order softness is a short-lived pause or the start of a new trend in the industry recovery.”