Trailer net orders in the U.S. during the month of February rose 21% over the previous month, slightly exceeding expectations, according to an FTR report.
With 21,300 units moved in February, trailer orders are up 2% year over year with more than 300,000 units ordered in the last 12 months.
Refrigerated trailers, dumps and flatbeds showed improved numbers for the month while dry van orders remained subdued. Reefer orders in particular were up 40% from the previous month and flatbed orders were the highest since October 2015.
“Orders were fairly impressive considering the robust ordering at the end of 2015,” said Don Ake, FTR vice president of commercial vehicles. “Van orders have slowed, but it’s good to see the increased orders in the other segments.”
FTR noted that the trailer market was continuing at a strong pace and overall it has stabilized at a high level. Order backlogs were also strong in both the dry van and refrigerated van segments with low levels of cancellations.
“The van market is being driven by pent-up replacement demand,” said Ake. “The large fleets are still making good profits and are investing money in upgrading their trailers.”