U.S. trailer orders were on the rise in November, but they are still 20% lower than the same month a year ago.
ACT Research has reported 32,103 net orders in November, up 84% over October. Before accounting for cancelations, there were 33,900 new orders, up 73% over October but still 18% lower than the previous November.
Year-to-date net and new orders in the first 11 months of 2021 were both about 11% lower than the same period in 2020 – even though the latter period included sales that collapsed in the early months of Covid-19.
“Trailer OEMs continue to be cautious regarding order acceptance as they attempt to maintain acceptable delivery schedules given their available staffing and anticipated supply chain support,” said Frank Maly, director – CV transportation analysis and research.
“The difficulty of developing pricing in the current inflationary market conditions also impacts order acceptance. OEMs are attempting to avoid the renegotiation cycles that occurred earlier in 2021, and the best way to achieve that is to extend their order boards in small steps as the year progresses.”
Backlogs now extend into the second half of 2022 at current build rates, he said, noting that most of the 2021 commitments shifted into next year were accounted for in September.
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