FTR Reports Preliminary U.S. Net Trailer Orders Set All-Time Record at an Astounding 56,500 Units

FTR reports that preliminary U.S. net trailer orders for October set an all-time record at 56,500 units. October’s orders were up 9% m/m and up a sturdy 68% y/y. With this latest banner month, trailer orders for the last twelve months now equal 249,500 units.
Fleets again ordered dry vans and refrigerated vans in large quantities, most for delivery in the second half of 2021. Flatbed orders improved and should reach their highest total this year. Backlogs are expected to rise to levels not seen since mid-2019. The fantastic order volume should enable the OEM’s to increase build rates entering 2021.
The surge in consumer-based freight continues to strain capacity and boost freight rates. Healthy fleet profits are resulting in large trailer orders for replacement of older dry vans and reefers and also for expansion due to the chaotic freight environment. Carriers are utilizing more drop-and-hook runs to compensate for the current driver shortage. Compounding the problem is a pronounced shortage of wood and aluminum components, which is limiting OEM van production. Fleets are concerned about these supply issues continuing, so many are placing all their requirements orders for 2021 now to lock up future OEM build slots.
Click here to view the latest release and an interactive graph of the Trailer Orders >

“There are still significant risks due to the increase in positive COVID-19 tests. The industry powered right through the summer despite rising infections. There is strong positive momentum right now, but it remains to be seen if possible new health restrictions will slow down the growth of freight. This industry is known for wild demand swings and we’ve gone from record low orders to record high orders in just seven months.”
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