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Preliminary Trailer Orders Bounce Back in November to 32,000 Unit

Preliminary trailer orders for November bounced back to 32,000 units, +89% m/m. While the order activity fell 23% below November of 2020, it was still the highest monthly total of the year and the best since December 2020. Trailer orders for the past twelve months now total 267,000 units.

The increase in order activity was mainly a result of large fleets placing 2022 orders and OEMs having the confidence of entering them into the backlog. Dry and refrigerated van orders improved, and there was an increase in flatbed activity as well. The OEMs are finalizing their Q1 production schedules and attempting to manage backlogs while continuing to struggle with supply change disruptions.

Don Ake-1

Don Ake

VP of Commercial Vehicles

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Don Ake commented, “This is great news for the trailer market. Fleets are signaling they will need considerably more trailers in 2022 to handle the freight growth and relieve some of the pressures in industry capacity and the spot markets. It also indicates the OEMs are beginning to look forward beyond Q1 and expect to be able to lift build rates at some point. Orders have been under the 30,000-unit mark for nine months, so this is an impressive number in that regard.

“There is still much uncertainty as we enter 2022. Some OEMs are still reluctant to enter orders too far in advance under these conditions. Quoting prices for future sales remains a challenge and some OEMs are employing surcharges and other tactics to manage new orders and total backlog. Therefore, the November orders indicate that progress is being made. When there is enough certainty and confidence about 2022, orders should rise accordingly.”

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