BLOOMINGTON, Ind. — Following back-to-back months of 24,000-plus orders in December and January after a delayed start to the 2026 order season, U.S. trailer net orders fell sharply in February, according to FTR.
“The U.S. trailer market remains under pressure from elevated input costs and ongoing trade uncertainty,” said Dan Moyer, senior analyst, commercial vehicles. “Section 232 tariffs on steel, aluminum, and derivative products remain in place. Despite the U.S. Supreme Court’s February ruling striking down the administration’s country-specific tariffs that relied on emergency powers, replacement tariffs of 10% under other authority took their place. Trade pressures are also intensifying in the van segment due to an ongoing antidumping and countervailing duty investigation.”
The sequential decline far exceeded normal seasonality, dropping 45% month-over-month (m/m) to 13,305 units. Orders were down a concerning 31% year-over-year (y/y) and came in well below the 10-year February average of 25,172 units. Orders for the 2026 U.S. trailer order season (September 2025-February 2026) are now down 19% y/y.
Total U.S. trailer builds in February increased 20% m/m to 15,199 units, roughly in line with February 2025 production levels, and build was flat y/y. However, with orders for 2026 production trending notably lower y/y, OEMs are likely to remain conservative in their 2026 build plans.
Trailer demand remains largely at replacement levels as fleets still have sufficient capacity and are prioritizing Class 8 purchases. Meanwhile, trailer demand continues to face several headwinds – elevated steel and aluminum costs, ongoing tariff uncertainty, persistently high financing costs, constrained capital spending, etc. – that are keeping orders subdued despite notably improving truck freight fundamentals.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
