FTR reports preliminary trailer orders continue to slide to the bottom of this cycle, registering only 8,200 units in July 32% below June and -58% y/y. Trailers orders for the past twelve months now total 354,000.
Dry and refrigerated van orders remained paltry, as OEMs are booked full for 2021 and not entering orders yet for 2022. Vocational orders fell as well in July, as fleets have most of their orders in for this year.
Don Ake, FTR vice president of commercial vehicles, commented, “The orders are in for 2021 but the challenge remains to build the trailers. OEMs continue to struggle hiring factory workers. Suppliers are struggling to keep pace due to a shortage of manpower and imported parts and components. The supply chain is still experiencing disruptions and bottlenecks. Some improvement in production is expected this year, but there are indications some supplies will be restricted into next year.
“Fleets are desperate for new dry vans to compensate for the shortage of new trucks and drivers in the current tight capacity environment. There is a growing amount of freight to be moved and the industry continues to struggle to deliver it on time. Spot loads and rates remain elevated. The semiconductor shortage is limiting Class 8 production and the driver shortage has been exacerbated by the aftereffects of the pandemic.”