July net trailer orders are more than double compared to last year, according to US market research company, ACT Research.
ACT’s preliminary estimate for July 2018 net trailer orders is 29,300 units.
“After a steady June, fleets came roaring back into the market in July,” said ACT Research Director of CV Transportation Analysis and Research, Frank Maly.
“OEMs had their strongest July net order volume in history, breaking a record that was set in 1994. Net orders were 102 per cent better than last July and 45 per cent above June volume. Considering July is, historically, the industry’s weakest order month, this performance is truly exceptional.
“Year-to-date, net orders of just over 200,000 trailers are up 30 per cent from 2017.
“When seasonally adjusted, July came in above 44,000 units, the second strongest monthly reading in industry history. That converts to a stunning 528k SAAR. Both dry vans and reefers paced overall performance, closing the month with backlogs that now stretch into March of next year. While strength was evident across all industry segments, it is noteworthy that cancellations remain low, indicating strong fleet confidence as we move through the rest of this year and into next,” he said.