March 2021: One Year of Lockdowns Means More Trailer Sales
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Nobody can predict the future, but they can certainly make educated guesses about it.
Trailer sales in March 2020 were in the close region of 8,000 units. This was at the start of the pandemic, a month half comprised of rushes on toilet paper and half of lockdowns across the nation.
It should not be surprising that March 2021 was an increase from the same month last year.
The Numbers
FTR estimates net trailer orders for the third month of the year to be 27,400. This is a 6.4% increase month-to-month, but more than a 200% increase year-to-year.
Don Ake is the FTR Vice President of Commercial Vehicles. He says the 6.4% increase from last month is attributable to an increase in dry van sales while other trailer sales remained steady.
He also voices his concerns that the supply chain for the trucking industry may not also create a dearth of trucks for sale, but also trailers. “Pressure is building up in the trailer market. Backlogs are at record levels and fleets desperately need more trailers,” he says. “Capacity is very tight in some areas of the country and spot rates remain near record highs.”
With more sales, the total rolling total of trailer sales is now 346,000.
Conclusion
Next month is the month we have been waiting for since the start of the new year. The dog days of the pandemic encapsulated April. Trailer sales suffered, dropping to a paltry 1,000 estimate. A bold prediction: sales year-over-year is going to exceed 2000%.
With trailers flying off the lots and a potential shortage coming, now might be a good time to get one before none are left for sale. TopMark Funding can help by helping you get the best financing terms for your scenario. Read on below for more information.
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