The preliminary estimate for November indicates that trailer manufacturers booked 19.5K net orders to their orderboards last month, a 39 per cent decline from October's volume, according to ACT Research.
Activity was 56 per cent below November of 2018, while year-to-date net orders are just under half that of last year.
Before accounting for cancellations, new orders of 21.1k trailers were off 43 per cent month-over-month and 54 per cent below last year.
“The sequential decline in November broke a four-month streak of monthly gains,” said ACT Research Director – CV Transportation Analysis and Research, Frank Maly.
“The cautious stance toward 2020 cap-ex spending is evident in both the level and pattern of fleet trailer orders as we approach year-end.
“One positive take-away from the November stats is a significant easing in cancellations compared to previous months. That’s an indication that, while lower, the commitments on the orderboard appear to be firming as we close the year.
“Discussions with trailer OEMs also indicate that, although they are encountering pricing pressure, quote activity remains solid, so any change in fleet confidence could quickly result in an order rebound,” he said.