ACT Research: Preliminary Information Shows the Trailer Industry Posted More Than 54k Net Trailer Orders In October; Third Highest Month in History
COLUMBUS, IN – (Trailer Technician) – Preliminary information for October indicates that the US trailer industry booked 54,200 net orders for the month, up 6% from September and more than 68% better than the same month last year. Before accounting for cancellations, new orders crossed the 56k mark. Both new and net orders ranked as the third-best in industry history. Final volume will be available later this month. This preliminary market estimate should be within +/- 3% of the final order tally.
ACT Research’s State of the Industry: U.S. Trailers report provides a monthly review of the current US trailer market statistics, as well as trailer OEM build plans and market indicators divided by all major trailer types, including backlogs, build, inventory, new orders, cancellations, net orders, and factory shipments. It is accompanied by a database that gives historical information from 1996 to the present, as well as a ready-to-use graph packet, to allow organizations in the trailer production supply chain, and those following the investment value of trailers and trailer OEMs and suppliers, to better understand the market.
“September’s rank as third-best month in industry history was short-lived, as October activity now takes that title. Fleet commitments over the past two months have now pushed industry backlog to the highest level since June of last year. Increases in both freight volumes and rates, along with capacity challenges, have influenced fleets to aggressively enter the market,” said Frank Maly, Director CV Transportation Analysis and Research at ACT Research. He added, “Current production rates would result in industry backlogs extending into next July. Expect OEMs to adjust build rates upward to take advantage of this positive shift in fleet investment.”
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis, and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
ACT’s 64th Seminar is scheduled for February 23-25, 2021. Focused on the continuous evolution and advancement of power and energy changes in the transportation and commercial vehicle markets, OUTLOOK Seminar 64 will feature key industry leaders such as Ryan Reed of Wabash National, John Bennett from Meritor, Lance Riegel of Marvin Johnson, and Dominick Beckman from Hino Motors. Look for more details on this event over the coming months and save the date for February’s event. Click here for seminar information.
Frank Maly Profile
Position: Director CV Transportation Analysis & Research
After receiving his B.S. from Bowling Green State University, Frank spent twelve years at a Fortune 150 company where his responsibilities included the North American Industry Forecast as well as other market analysis and market information responsibilities. While there, he also obtained an MBA from Western Michigan University.
Prior to joining ACT in 2011, Frank has been involved in the commercial vehicle industry for 18 years. He’s held analytical and product management roles at a major trailer OEM, a component supplier, as well as a supplier of commercial vehicle analysis and marketing solutions. As a past ACT customer, Frank also contributes a customer-oriented perspective to the organization.