Trailer Orders Exceed Production for February 2022
Unlike truck orders for the same period of time, trailer production still has room in the backlog for orders, and as such orders were higher than production in February. ACT Research and FTR have the numbers.
February 2022 Numbers
Act Research says that 26,500 trailers were ordered in February 2022, and FTR says that the backlog grew by a modest 3,000. Don Ake of FTR says that the backlog growing is a sign of industry strength, not weakness, and we are inclined to agree with him.
“The commercial trailer industry is the most stable it’s ever been,” says Don Ake, FTR vice president of commercial vehicles. “OEMs will increase production as soon as they can get more parts, components and workers. When this finally breaks loose, order volumes will jump substantially.“
He also says that because demand exceeds supply for trailers in the current market, some larger fleets are getting creative with sourcing their trailers.
“Some previously retired trailers that were being used for storage or drayage are now being refurbished and returned to active duty. Freight growth continues in all segments, so every month the need for trailers intensifies.”
Compared to last month and last year, February 2022 surpassed by 500 and 2,000, respectively.
Conclusion
As with truck sales, trailers are becoming harder to come by as time goes on, and as such prices are increasing. We believe that with global supply chain shortages, the prices of trailers are only going to become worse over the course of the next year before they get better. That means if you are in the market for a new or used trailer, getting it as soon as possible is key to preventing additional and unneeded expenses.
Fortunately for you, TopMark Funding can help finance trailers, trucks, and other commercial equipment. We work with numerous lending agencies to get you the best funding options for your particular credit scenario, regardless if your credit is perfect or less-than-perfect. Read on below for more details about what we can do for you and your trucking company!
ABOUT TOPMARK FUNDING
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Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.
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