While preliminary reports indicate trailer orders in February fell 23% since January to a total of 23,100 units, order activity remained consistent with seasonal trends, according to FTR.
Although orders fell month to month they were still 64% above February 2020.
Freight markets continue to be strong with more trailers needed to meet the growing demand, FTR officials said in a press release.
Most fleets have already placed all their orders for 2021 delivery, especially for dry and refrigerated vans. Orders in the flatbed and other vocational segments are expected to continue to recover until entering the summer months.
“Fleets have placed large orders for trailers in response to the robust freight demand,” Don Ake, FTR vice president of commercial vehicles said. “OEMs are under pressure to fill these orders due to bottlenecks in the supply chain. Suppliers are facing worker shortages; some raw materials are scarce and there are still delays getting some imported parts through the West Coast ports. Once the situation improves, production will be steady, at high volumes for an extended time.”
Looking ahead for the year, Ake says the trailer demand will continue at elevated rates once the supply chain stabilizes, right into 2022.
Trailer orders for the past twelve months total 322,000.