FTR Reports 2020 Trailer Ordering Season Off to Vibrant Start with 31,800 Preliminary Orders for October
Bloomington, IN (November 15, 2019) – (Trailer Technician) – FTR reports that preliminary trailer orders for October were in line with expectations at 31,800 units, up 71% from September. October activity was the highest since November 2018, pointing to a vibrant start for the 2020 trailer ordering season. Regardless, orders were down significantly (-42%) y/y from 2018 near-record volume. Trailer orders for the past 12 months now total 241,000 units.
The high October order totals were achieved despite still elevated cancellations, as a few OEM’s continue to clean up their 2019 backlogs. October production is expected to be down moderately on a per-day basis due to seasonal factors, with backlogs climbing slightly for the first time in ten months.
Don Ake, FTR vice president of commercial vehicles, commented, “This is great news for the trailer market. Several large dry van fleets placed requirement orders for 2020, showing they have confidence in the freight markets going into next year. Dry van orders were strong despite a lull in freight growth. There still is plenty of replacement demand present and fleets continue to need more dry vans to move products quickly to and between warehouses due to increased online sales.”
“The vocation trailer markets, such as flatbeds and dumps, are still struggling as the industrial sectors of the economy weaken. Refrigerated van orders are expected to increase soon. The higher October orders suggest the market will be decent in 2020, although down significantly from the expected record production volume of 2019. The trailer market is slowing, but a significant downturn is not imminent.
About FTR
For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.
FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information www.FTRconference.com
To learn more about FTR visit www.FTRintel.com, Follow us on twitter @FTRintel and connect with us on LinkedIn! To contact FTR, call 888-988-1699 or email [email protected].