FTR reports preliminary trailer orders for February at 24,000 units, which is down 9% month over month and 27% year over year.
February was the third month in row trailer orders were in the mid-20,000s as some van OEMs are basically sold out for 2019, with few build slots left open. Dry van fleets that need trailers this year are grabbing whatever slots they can find, regardless of their historical brand preference. Vocational trailer demand remains stable, but down from the strong order rates a few months ago. Trailer orders for the past 12 months now total 386,000.
“The decent February order volumes mean that backlogs should only decline modestly during March,” said Don Ake, FTR vice president of commercial vehicles. “The trailer market continues to show surprising resilience despite the moderation in economic and freight growth.
“The current strength of the trailer market is good news for the general economy. It indicates fleets expect sturdy freight demand to continue throughout 2019.”