February net trailer orders, just below 18.2k units, were down 17% from January and 13% below the level accepted in February 2024, according to this month’s issue of ACT Research’s State of the Industry: U.S. Trailers report.
“Net orders are signaling that the worst of the downturn may be in the rearview mirror,” said Jennifer McNealy, Director–CV Market Research & Publications at ACT Research. “However, we caution that the industry’s annual period of seasonally stronger order months is ending, and weaker intake months are expected as we move into the late spring/summer, amid tariff uncertainty that is likely extending the ‘pause’ on ordering decisions.”
“We’re hearing from those on the trailer industry’s frontlines that general economic concerns in the face of tariff ambiguity and its ongoing impact on the freight markets are causing customers to delay ordering. With weak profits and still-soft freight rates, fleet decision makers are reluctant to pull-the-trigger on large capital investments until the dust settles and the operating environment becomes clearer,” McNealy concluded.
State of the Industry: U.S. Trailers Report Overview
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, trailer OEMs, and suppliers to better understand the market.
ACT Research Overview
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.
Additional Resources
Preliminary net trailer orders dropped about 3,700 units from January to February, a contraction of 17%. At 18,000 units, order intake was down about 14% compared to February 2024. Seasonal adjustment (SA) at this point in the annual order cycle lowers February tally to 17,000 units, and that’s about 12% below January’s seasonally adjusted intake. Final February results will be available later this month. This preliminary market estimate is typically within ±5% of the final order tally.
“A sequential drop in net orders was expected, as we move toward the weaker order months of the annual intake cycle, and from that perspective, February did not disappoint. It’s also no surprise that data are lower than the February 2024 intake, given the uncertainty currently plaguing the US commercial vehicle industry and the economy at large,” said Jennifer McNealy, Director CV Market Research & Publications at ACT Research.
She cautioned, “Despite the ambiguity that continues to buttress the trailer market pause we’ve seen for the last year, made worse by the constant policy shifting of the last few months, orders are expected to be placed but at a subdued level throughout 2025. That said, this is not a shift in ACT’s expectations, as weak trailer demand is the result of weak for-hire truck market fundamentals, low used equipment valuations, relatively full dealer inventories, and high interest rates impeding stronger activity in the near term.”
- Orders: 18.2k, -17% m/m, -13% y/y
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