US trailer net orders jumped in March

ACT Research has released its latest report on US trailer market statistics.

US trailer orders of 37,901 units increased more than 40 per cent from the previous month and were nearly 28 per cent higher compared to March of 2021.

Before accounting for cancellations, new orders of 38.4k grew about 37 per cent versus February, but expanded only about 16 per cent from the previous March.

“While total net orders jumped 40 per cent m/m in March, the strength was dry van-centric,” said ACT Research Director-CV Transportation Analysis and Research, Frank Maly.

“A 71 per cent sequential surge in dry van net orders accounted for 96 per cent of the total industry month-over-month gain.

“On a year-over-year basis, net orders were up 28 per cent, with a similar story to the monthly results. Dry vans, joined by reefers, provided more than the full market improvement, while the other eight trailer categories totalled 1.1k lower on a year-over-year basis.”

He concluded with a discussion of the backlog-to-build ratio.

“With OEMs rapidly filling available 2022 production slots [both dry van and reefer BL/BU stretch into December at current build rates], we expect orders and production to travel in lockstep until 2023 orderboards officially open,” said Maly. “When that occurs, fleets likely will rush to formalise commitments that are already under discussion and negotiation.”

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