Preliminary net trailer orders increased sequentially in July to 10,000 units, but were lower against longer-term comparisons, ACT Research reported. As the weakest order month of the year, July’s seasonally adjusted (SA) factor boosts the SA tally to 15,700 units, according to the industry analysts. Final July results will be available later this month. This preliminary market estimate should be within +/-5% of the final order tally.
“Preliminary net orders rose more than 95% sequentially and were the highest seasonally adjusted level since March,” Jennifer McNealy, director, CV market research and publications at ACT Research, said. “With still high backlogs and 2024 orderboards only minimally open, it is still too soon for robust expectations.”
Backlogs remain “healthy,” McNealy noted, but fwell below year-ago levels for the first time this year in June. Demand may be softening, but it’s “far from falling off a cliff.”
Additionally, July’s preliminary data show cancellations, although still “higher than desired,” moderated after three months of broadly-based elevated cancellations, she added.
“Using preliminary July orders and the corresponding OEM build plans from the July State of the Industry: U.S. Trailers report (June data) for guidance, we would expect the trailer backlog to decrease by around 14,800 units to about 157,000 units when complete July data are released,” McNealy concluded. “As this number is derived from estimated data, note there will be some variability to reported backlogs when final data are collected.”
ACT Research’s State of the Industry: U.S. Trailers report provides a monthly review of the current US trailer market statistics, as well as trailer OEM build plans and market indicators divided by all major trailer types, including backlogs, build, inventory, new orders, cancellations, net orders, and factory shipments.