BLOOMINGTON, Ind. — Trailer net orders fell 10% in June, to 11,900 units, according to the latest figures from FTR.
Orders were 56% off last June’s pace, marking the weakest June since 2009. Elevated dry van cancellations were also noted.
Orders have totaled 271,000 units over the past 12 months, FTR reports, with backlogs falling to their lowest level since September 2014.
“Trailer orders were down in June due to cancellations in the dry van segment,” said Don Ake, FTR’s vice-president of commercial vehicles. “It appears that Q4 backlog has begun to soften because of moderating freight demand, with fleets reevaluating their second-half requirements. Monthly trailer orders have averaged only 13,700 units, so the market is cooling. Backlogs fell 15,000 units, likely a record drop for one month.”
“The good news is that production remains strong in the van segments,” Ake added. “Backlogs are still decent and production should fall only moderately in the coming months. However, flatbeds and tankers are not expected to improve any time soon. Dump trailer orders have weakened, so production cuts are probably on the way.”