Global supply chain shortages, ravaging the trucking industry for the better half of a year, may finally be coming to an end, as both ACT Research and FTR report numbers that are higher than they were in August.
September 2022 Numbers
ACT Research pins the number at 25,700, while FTR has revised its preliminary numbers from 12,500 to 21,500 units. While the gap between the two is one of the highest we have seen, both organizations are in agreement that the number is higher than the month prior.
Charles Roth, analyst for commercial vehicles at FTR commented on the effects of pent-up demand. He states that the pent-up demand the trucking has endured these past months not only led to an increase of sales in September, but the summer months, normally being slow for trailer sales, had higher order numbers than they did in 2021.
“In the retail market, dealerships still can’t keep enough stock to meet demand. At the same time, large carriers haven’t been able to keep up with replacement cycles, which has driven the level of pent-up demand for new replacement units to above-average levels. While net orders have historically followed a seasonal pattern, the past two years have fundamentally changed how OEMs manage their build slots” Roth commented in a statement alongside the release of the order numbers.
With global supply chain shortages seeming to weaken, it begs the question as to how trailer sales in the holiday season, which usually outperform most months of the year, will do. Will trailer manufacturers have the means to chase the pent-up demand that trucking companies have been restaining for the past year? We will have to wait and see.
In the meantime, if you are in the market for a new or used truck trailer, TopMark Funding can help you. By leveraging our network of numerous funding sources, we can get you the best funding deal for your particular credit scenario, regardless of whether your credit is perfect or less-than-perfect. Read on below for more information, and talk with us today!
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