The US trailer industry has set net order records for Q3 2018 with backlogs stretching into Q2 2019, according to ACT Research.
The US trailer industry set net order records throughout Q3 2018, with both July and August being the strongest months, respectively, in industry history, according to this quarter’s issue of ACT Research’s Trailer Components Report. The quarter closed with the industry posting the strongest monthly net order volume in history, with more than 58,000 net orders posted in September. That was more than 11,000 stronger than the previous record set in October of 2014. The robust OEM order board, and the resulting trailer production rates, will continue to challenge industry component and material suppliers during the upcoming months.
“Strong freight demand and tight capacity have combined to support both contract and spot rates,” said ACT Research Director – CV Transportation Analysis and Research, Frank Maly.
“Extremely positive fleet financial performance is the result, providing both the need and ability to continue strong levels of equipment investment.
“Solid orders are not just a short-term phenomenon, as five of the top ten order volume months in industry history have occurred in the last four quarters.
“Cancellations continue to be minimal. Industry backlogs now stretch well into Q2’19, so fleets realise that backing away from any trailers currently on the order board might result in equipment delivery sometime next summer, or later,” he said.