BLOOMINGTON, Ind. — U.S. trailer demand was resilient in May, increasing 1% month over month (m/m) to 20,189 units, which represented a surge of 249% year over year (y/y) versus a very weak level in May 2025, according to FTR.
“Despite the stronger May order intake, the market still does not appear to be entering a broad-based upcycle, especially with seasonally slower order months approaching,” said Dan Moyer, senior analyst, commercial vehicles, FTR. “Rather than widespread capacity expansion, demand remains concentrated in replacement activity, fleet-specific needs, and dry van normalization with support from solid flatbed demand.”
Above the 10-Year Average
Orders were far above the 10-year May average of 11,649 units, indicating better-than-seasonal momentum into late spring. Dry van trailers led the strength, but other key trailer types were strong as well, and almost all logged improved orders from a year earlier.
U.S. trailer builds declined 6% m/m in May to 16,553 units and were down 1% y/y, showing that trailer manufacturers remain cautious despite improved orders. Production for the year to date was essentially flat y/y at 79,482 units as net orders continued to outpace build.
Tariff Trailer Troubles
“Cost pressures are building and are reflected in May’s sharp increase in the already-elevated Producer Price Index for truck trailers and chassis,” Moyer said. “A recent change in how Section 232 tariffs are applied means higher overall tariffs on trailers, and upcoming antidumping/countervailing duty exposure for van-type trailers and subassemblies could add more costs on top of Section 232 tariffs.”
According to Moyer, this situation may create opportunities for domestic manufacturers and suppliers, but those opportunities also could tighten build slots, extend lead times and strain the supply of components or labor.
“The result could be firmer domestic pricing and less consistent order flow even without a broad increase in underlying trailer demand,” Moyer said.
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.
