Trailer orders saw nominal improvement from November to December, according to ACT Research. At 24,300 units, preliminary data indicated it was lower compared to last December, a decrease of nearly 58% year-over-year.
As it was during the peak order season, factoring in a seasonal adjustment, December’s data drops to 17,200 units. However, it’s still 10% higher than November.
December’s preliminary net orders aligned with expectations, said Jennifer McNealy, director commercial vehicle market research and publications at ACT Research. This comes as fleets have noted weak profitability and trailer manufacturers that have shared “orders are coming, but at a slower pace than they have the last few years.”
"This month’s results continue to support our thesis that when fleets don’t make money, their ability and/or willingness to purchase equipment is muted," McNealy said. "That said, the lower orders don’t indicate a catastrophic year in the offing either, simply the slowest December we’ve seen since before the pandemic began.”
She noted that other indicators that ACT Research is looking into include cancellations, which fluctuated above comfortable levels in Decembers, and the backlog-to-build ratio, which in aggregate is weakening, now around five months.
“However, some specialty segments have no available build slots until late in 2024 at the earliest, while others are in the three-month range,” she added.
