Trailer net orders continued to exceed expectations this fall, according to the latest data from FTR.
November represented the third highest month on record for new trailer orders with 39,300 units ordered – up 19% compared to October. Trailer orders have now totaled 332,000 units over the past 12 months.
The strong trailer demand was led by dry vans, up 44% month-over-month and the best month since December 2014. Refrigerated van demand was robust for the third straight month, though down from last month’s record numbers. Dump trailer orders continued to show strength and all other segments met expectations, FTR reports.
“The trailer market continues to show remarkable resilience entering 2016,” said Don Ake, FTR vice-president of commercial vehicles. “This is the third highest order month ever and some segments aren’t even doing very well. It is particularly impressive, considering Class 8 demand is faltering and freight growth is slowing somewhat due to the manufacturing slump. Demand is still strong because the replacement cycle for dry vans remains very favourable. The recession and slow recovery delayed some replacement demand, and carriers are still modernizing their fleets. In addition, fleets are being encouraged to place their entire 2016 requirement orders now, due to continuing OEM capacity constraints.”