COLUMBUS, Ind. — July’s preliminary net trailer orders increased sequentially but were lower against longer-term comparisons, with 10,000 units, according to ACT Research.
As the weakest order month of the year, July’s seasonally adjusted (SA) factor boosts the SA tally to 15,700 units.
Final July results will be available later this month. This preliminary market estimate should be within +/-5% of the final order tally.
Preliminary net orders, at 15,700 seasonally adjusted, rose more than 95% sequentially and were the highest seasonally adjusted level since March,” said Jennifer McNealy, director of commercial vehicle market research and publications at ACT Research. “With still high backlogs and 2024 orderboards only minimally open, it is still too soon for robust expectations.”
Additionally, July’s preliminary data show cancellations, although still higher than desired, moderated after three months of broadly-based elevated cancellations, McNealy noted.
“Backlogs remain healthy, if falling below year-ago levels for the first time this year in June,” she said. “Demand may be softening, but it’s far from falling off a cliff.”
When asked about the backlog’s trajectory, McNealy said: “Using preliminary July orders and the corresponding OEM build plans from the July State of the Industry: U.S. Trailers report (June data) for guidance, we would expect the trailer backlog to decrease by around 14,800 units to about 157,000 units when complete July data are released. As this number is derived from estimated data, note there will be some variability to reported backlogs when final data are collected.”
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