April net U.S. trailer orders of 14,387 units fell nearly 52 percent from the previous month and rose more than 3,600 percent compared to the severely COVID-impacted April of 2020. Before accounting for cancellations, new orders of 18,900 units were down 44 percent versus March, but 219 percent better than the previous April, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report.

“While seasonals call for a sequential decline in net orders in April, other market pressures drove net orders down to 14.4k trailers for the month, less than half that of March bookings,” said Frank Maly, Director–CV Transportation Analysis and Research at ACT Research. In considering longer-term comparisons, though, he cautioned, “We’re now in a period where, because of the unprecedented COVID-related impact in 2020, year-over-year comparisons will become much less valuable in determining the strength of the market.”

Maly added, “The industry is also grappling with extended backlogs, and, on average, the next available production slots for dry vans and reefers are in Q2’22. That challenges OEMs as they struggle to confirm component and materials pricing, as well as supply, that far into the future. Fleets, too, struggle with determining true equipment requirements that far out.”

He concluded, “Some OEMs have announced a pause in order acceptance, as they search for a bit more certainty in the long-term. Re-negotiation of pricing on already-booked orders may also cause some fleets to step to the sidelines, seeking a bit less uncertainty on future CAPEX commitments, and simultaneously reducing new orders in the short term.”