Peak order season opened in September, and although net orders in November continued to show relatively healthy bookings, they were softer than the previous two months. Unlike the last few years with challenges solidly on the supply-side of the pendulum, trailer industry concerns now rest on the demand-side, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.

November net orders, at 21,100 units, were 47 percent lower y/y, and more than 14,000 units less than were booked in October.

“With 35 percent of the year’s orders historically booked in Q4, the quarter’s seasonal factors run roughshod on the nominal data. Seasonally adjusted, November’s orders were reduced to 15,700 units. On that basis, orders decreased 40 percent m/m,” said Jennifer McNealy, Director–CV Market Research & Publications at ACT Research. “Regarding orders and expectations for 2024, trailer manufacturers reinforced this month what they have been telling us for a while: negotiations are ongoing, but order placement is at a slower pace than what occurred the past few years.”

Regarding build, she added, “November’s per day build rate decreased 3 percent to 1,178 from October’s 1,220-unit per day rate. Overall, build was more than 12 percent lower m/m, mostly due to two fewer build days in November. Supply-chain issues have essentially normalized, with OEMs reporting smaller, less impactful disruptions.”

McNealy concluded, “Despite being in the third month of the new peak order season, build outpaced orders in November by about 2,500 units. Trailer backlogs contracted 32 percent against 2022’s supply-chain constrained and pent-up demand heavy environment.”