U.S. trailer orders slid 28% from June to July, dropping to 17,000 units in the latest month, industry analysts at FTR report.
That brings total trailer orders to 275,000 units over the past 12 months.
While manufacturers still seem cautious about taking orders for next year’s build slots, openings are beginning to emerge on a limited basis. Still, manufacturing rates continue to be tempered by factors including supply chain conditions, rising material costs, and labor shortages, FTR says.
“Amidst these uncertainties and production challenges, OEMs have continued to strategically manage backlog levels and maintain strong build rates. Under these conditions, order volumes are likely to improve in Q4 as OEMs begin filling their production schedules for 2023,” commercial vehicle analyst Charles Roth predicted in a press release.
“While trucking conditions have as of late suffered due to weaker market dynamics and increasing costs, overall demand for new equipment remains exceptional and is expected to remain strong as carriers are still in need of new equipment to supplement their replacement cycles.”