February 2021: Trailer Sales Far Exceed Same Time Last Year
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Similar to the trailer sales in January, February trailer purchases decreased when compared to the month prior, but are extraordinarily higher than they were at the same time last year. ACT Research has compiled and reported the numbers.
Trailer Sales Numbers
February 2021’s trailer sales totaled approximately 24,000 units. This is a 20% decrease from the 30,000 in January, but an 82% increase from February 2020.
24,000 in trailer sales is not bad, considering the trucking industry is currently in its slow season for the year.
Frank Maly, director of CV transportation analysis and research with ACT, says what we are all thinking: as we enter the one-year anniversary of the coronavirus pandemic, we will see interesting numbers for year-over-year growth moving forward. “Given last year’s COVID-related softer economy, year-over-year improvement for net orders is a foregone conclusion over the next few months,” he says.
Conclusion
Maly also stated in the report that the trucking industry has a backlog for trailer sales, not seen this large in scope since March 2019. This means that trailer purchases are exceeding production, and businesses/fleets need to order in advance to secure a trailer
The trailer sales for March 2020 hovered around 8,000. Barring another global economic crisis, we are willing to put our money on trailer sales exceeding this number the next time around.
If you are interested in planning ahead for a trailer purchase a few months down the road, TopMark Funding can help. Read on below for more information on how we can help expand your fleet.
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