June net trailer orders, at 6,300 units, were 19 percent lower year/year, but a mere 275 units above May’s intake. June’s order tally brings Q2 net orders to 26k units (-14 percent from Q2’23) and closes the first half of 2024 with 74.5k net orders placed. The first-half tally was 24 percent lower than the intake of 1H’23, with its faster paced order environment, lingering pent-up demand, and a still moderately congested supply chain, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.

“Seasonally adjusted, June’s orders were more than 8,100 units compared to a 7,100 SA rate in May,” said Jennifer McNealy, Director–CV Market Research & Publications at ACT Research. “On that basis, orders increased 14 percent m/m. Dry van orders contracted 56 percent y/y, while reefers and flats were significantly higher than their respective tepid net order tallies last June.”

She added, “Build outpaced orders again in June, by 15.3k units, with backlogs shrinking more than 14 percent sequentially. While down considerably m/m, the backlog was significantly lower y/y, down 48 percent against 2023’s firmer backdrop.”

McNealy concluded, “Despite continual monitoring, little changed in Q2, and despite hopes of the contrary, it was not expected to do so. US trailer manufacturers and suppliers continue to navigate choppy waters, but unlike the past few years, they are on the ebb tide of weaker demand, rather than the flow of congested material supply chains and labor shortages.”