Trailer Sales Lower Backlog in March 2023
Once again, trailer sales and Class 8 truck sales are going together like peanut butter and jelly. As with the number of tractors sold for March 2023, the number of trailers sold for that month means that the record-breaking backlog is finally starting to come down. That is a nice way of saying that sales were lower than production! ACT Research has the numbers.
March 2023 Sales Numbers
ACT Research pins the number for March 2023 net trailer orders to be 16,800.
We will start with the bad news about this fact: it is a nosedive off of the sales numbers from the same month the year prior; March 2022 had 37,900 units. Likewise, February was higher despite being a shorter month at 25,800 units.
Despite all this, ACT Research firmly believes that demand for trailers remains strong, due to a backlog that is almost two years in length.
Jennifer McNealy, director of commercial vehicle market research at ACT Research, had this to say about the phenomenon:
“Orders pulling back in March is a month earlier than normal seasonality would suggest, but near record-level order backlogs are easy to point to in explaining away the earlier-than-expected deceleration.” She also added that an estimated 12,000 more trailers were produced than fulfilled in March 2023, lowering the backlog down from its whopping 230,000 count.
Conclusion
All of this means that the trucking industry still has a lot of stored diesel fuel in its tank, and that any apprehension about weaker trailer (or truck) sales is unwarranted, at least until the well of backlog orders for both find themselves dried. For people hoping to purchase a new trailer, this news of a shorter backlog means that they will not have to wait almost two solid years in the future for a new trailer.
If you want to get your foot in the door now to get a new trailer as soon as possible, TopMark Funding can help by offering you a funding solution that works for you in purchasing business assets. Read on below for more information on how we can help you!
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