Trailer manufacturers are closely watching order intake, keeping numbers relatively consistent month to month.
February net U.S. trailer orders hit 27,041 units – up about 1% from the previous month and 6% compared to February 2021. Before accounting for cancellations, according to ACT Research, new orders of 28,100 units were virtually unchanged compared to January but up almost 3% from the previous February.
“Tight order control, bordering on order allocation, continues to be the norm for the industry. While demand for equipment continues at a torrid pace, OEMs are carefully metering orders to production levels,” said Frank Maly, director of commercial vehicle transportation analysis and research at ACT Research. "Small fleets and dealers continue to struggle to obtain equipment, as discussions point toward larger players willing to make large volume commitments.”
OEMs have kept a backlog-to-build ratio in a tight range between 7.4 months and 8.4 months since June.
"However, February’s 8.1-month level commits the industry into early November," Maly said, "and we will soon be approaching a backlog-to-build ratio that will extend into the new year, where new model years and new pricing commitments could complicate order acceptance.”
Some reports indicate that fleets are willing to make sizeable commitments that would extend well into 2023, but Maly said it seems some OEMs are unwilling to push the order board to those extremes.
"Support from the supply chain, as OEMs attempt to ramp output, will be the controlling factor on any order surge," he said.
