Trailer Orders

Dan Moyer, senior analyst, commercial vehicles, commented, “In December, total trailer net orders significantly outpaced production, increasing backlogs to 104,725 units. The combination of rising backlogs and reduced production month-over-month pushed the backlog/build ratio up to 8.9 months – the highest level since January 2024. While this increase is largely attributed to exceptionally low production levels, it also suggests easing pressure on OEMs to further scale back production in the near term.

“In 2024, North American Class 8 net orders rose 11% y/y while U.S. trailer net orders declined by 27% y/y. For-hire fleets (and, probably, private fleets, too) have prioritized investments in new power units over trailers, likely driven by reduced profitability or shifts in trade cycles. This trend looks like it is continuing as North American Class 8 net orders are up 8% y/y during the 2025 order season so far while U.S. trailer net orders for the same period fell 32% y/y.”