New U.S. trailer orders of 15,500 were down 16 percent month-over-month, but after accounting for cancellations, net orders slid to 10,500 units, down 28 percent from April. Year-to-date, net orders are 40 percent below last year, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailer Report.

Near-record backlogs have filled 2019 build slots for many OEMs, and there continues to be resistance toward booking orders into next year, resulting in the order volume contraction.

“We’re now running into very difficult year-over-year comparisons, as OEMs are generally unwilling to accept orders for 2020,” said Frank Maly, Director–CV Transportation Analysis and Research at ACT Research. “We hear that some OEMs may open their 2020 orderboards in June; if so, expect better comparisons in the months ahead.”

Additionally, Maly said, “However, given market pressures of strong capacity growth in the face of a slowing economy and tariff uncertainties, the anticipated order surge may not be as robust as many may assume.”