Trailer Orders

Dan Moyer, senior analyst, commercial vehicles, commented, “Many fleets continue to prioritize purchasing power units over trailers – a trend unlikely to reverse given the approaching implementation of EPA’s 2027 NOx regulations on trucks. During the 2025 order season so far, North American Class 8 net orders are up 4% y/y while U.S. trailer net orders are down 21%. Trailer OEMs have scaled back production, and prolonged cuts are possible if demand remains weak.

“Tariffs threaten further disruption. The 25% tariffs on steel and aluminum imports planned to take effect next month along with the 10% additional tariff already imposed on Chinese imports and the currently paused but still possible 25% tariffs on Canadian and Mexican imports will raise material costs, squeeze margins, and strain supply chains. Tariffs will affect not only fully assembled trailers imported into the U.S. but also domestically produced trailers, which depend on imported materials and components. Expect market volatility as OEMs try to adapt to uncertainty over scope and timing of tariff impacts.”