Trailer Orders

Dan Moyer, senior analyst, commercial vehicles, commented, “Overall, the U.S. trailer market appears to be moving from deterioration toward stabilization and modest improvement. Freight conditions are improving in pockets, but the recent rebound remains driven mainly by replacement demand and selective fleet activity rather than broad expansion. Trailers should therefore continue to lag Class 8 in the near term with improvement concentrated among stronger fleets, aged-equipment replacement, and dry van normalization.

“Cost and policy risks remain key overhangs and may already be shaping demand patterns. A change in how the Section 232 steel and aluminum tariffs are applied adds pricing and sourcing volatility for trailer equipment with significant metals exposure, and a van trailer antidumping and countervailing duties investigation adds further uncertainty.

“April trailer demand was better than expected, but a durable upcycle will likely require stronger fleet margins, higher trailer utilization, further absorption of excess capacity, and clearer visibility into trade-related costs.”