According to ACT Research, preliminary trailer data for October shows a total of 54,200 orders, up 6% from September and more than 68% higher than October 2019.
“September’s rank as third-best month in industry history was short-lived, as October activity now takes that title,” said Frank Maly, director commercial vehicle transportation analysis and research at ACT.
Before accounting for cancellations, new orders actually reached more than 56,000, with both new and net orders ranking as the third-best in industry history.
With fleet commitments from the past two months pushing the industry backlog to its highest level since June 2019, increases in freight volumes and rates, as well as capacity challenges, have persuaded fleets to buy more trailers, according to Maly.
“Current production rates would result in industry backlogs extending into next July. Expect OEMs to adjust build rates upward to take advantage of this positive shift in fleet investment,” he added.