FTR Reports Final Trailer Orders Weak in May at 9,500 Units
Bloomington, IN – (Trailer Technician) – FTR reports that final net trailer orders sank in May to 9,500 units, 42% below April. Y/Y comparisons were still up 112% versus COVID-impacted 2020 order activity. Van orders were very soft in May but vocational trailers remain sturdy as the industrial sector of the economy picks up steam. Trailer orders for the past twelve months total 368,000.
The weak order activity reflects OEM’s that are essentially booked for the year and reluctant to quote trailers for 2022 delivery due to a spike in commodity prices and other costs. In addition, some fleets are adjusting their requirements due to extended lead times.
Don Ake, FTR vice president of commercial vehicles, commented, “The market is in a strange place right now in that the bucket for 2021 orders is almost full, but the bucket in 2022 is essentially empty. We expect abnormally low activity until the 2022 order boards are opened. At that point, orders should shoot back up to near-record levels.
“Freight growth remains robust. Fleets continue to need more trailers than can be produced in the short-term. The supply chain situation improved some in May, but the industry is still scrambling to catch up. The environment is expected to improve in the second half of the year but will still impact the industry well into 2022.”
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
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