Final trailer orders for August remained in a low holding pattern at 10,400 units, which is up 1% month over month, according to FTR Intel.
Continuing the recent trend for 2019 trailer orders, August activity was -71% year over year. Cancellations were elevated for the third consecutive month as fleets evaluate their requirements for the rest of the year. Backlogs fell for the eighth straight month and are now at their lowest level since late 2017, FTR said.
However, trailer production stayed strong at near-record levels in August. Trailer orders for the past 12 months now total 300,200 units.
“Trailer orders should begin to rise in September as a few fleets place orders for 2020,” said Don Ake, FTR’s vice president of commercial vehicles. “It is anticipated that order activity will significantly improve in October and subsequent months as the market begins to return to traditional ordering patterns.
“Trailer demand is expected to ease back in 2020 after setting a new production record this year. Dry van and refrigerated van activity should remain decent. However, flatbed and dump trailer sales will suffer from a weaker industrial economy.”