BLOOMINGTON, Ind. — FTR reported today that US trailer net orders for April met expectations at 15,800 units.
Month-over-month order activity was up 15%, but it was down 12% year-over-year. In total, order reached 289,000 units over the last 12 months, and backlogs are now down 7% y/y.
In addition, dry van orders rebounded in April after a weak March. Refrigerated van orders were down from March and the lowest since 2013, with flatbeds orders similar to March. April order activity for liquid tanks and dump trailers was weak during April.
“The trailer market is slowly moderating and beginning a transition period,” Don Ake, FTR vice-president of commercial vehicles, said.” Orders have been weak for two consecutive months, and the start of the traditional summer order slump is still two months away. Backlogs remain excellent, so no major adjustment to production is expected for a few months. Cancellations were elevated for the second straight month, and this is usually an indication the market will begin cooling soon.
“Dry vans and refrigerated vans continue to sustain the trailer market. Fleets are profitable, and they are using some of these profits to replace units that were not able to be replaced during the Great Recession. Refrigerated freight is still robust, driving the need for new and replacement units. The dump trailer market is being boosted by increased road construction.”