Trailer Orders are Average for October 2021
We are writing about October summary news in December. So much is going on in the trucking industry, it is hard to keep pace with it all!
ACT Research and FTR have their estimates for trailer orders in October 2021. While it pales in comparison to the Earth-shattering numbers of the same month last year, it is still decent sales.
October 2021 Numbers
ACT Research has the number estimated at 16,700. FTR pins it at 16,800. This is perhaps the closest the two organizations have ever been in their estimates.
The number is 30% of what it was for October 2020, which was the all-time record for trailer sales since the two started reporting the numbers. The pent-up demand for goods from the dog days of the coronavirus pandemic, combined with the start of the holiday season rush, resulted in a skyrocket of trailer orders and sales. While the holiday season is approaching, society has mostly acclimated to the pandemic: people are tired of lockdowns and just wear masks indoors.
The trailer sales are lower than September 2021, but are higher than the month before that. It being the fifth highest month for the year so far (beaten only by the first three months and September), it is perfectly average.
Do the supply shortages ravaging other aspects of the trucking industry play a role in the dip from the month prior? Don Ake, FTR vice president of commercial vehicles, says yes.
“Orders have been tepid all year. The challenge for many OEMs is not to acquire more backlog, but to manage the backlog they have. Fleets need lots of new trailers, however, the manufacturers are being careful about how and when to slot these commitments into the build schedule.”
While the supply shortages almost certainly put a damper on sales, the numbers are still within the expected range. The trailer industry is faring much better at producing more units than the Class 8 industry is.
Conclusion
With the supply chain issues going on around the world, it is likely the numbers for November will be comparable to October 2021. We will have to wait until the numbers are released from ACT Research and FTR to be sure.
If you are in the market for a new or new-to-you trailer, TopMark Funding can help you get the best rate for your credit situation! Read below for more information.
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