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State of the Trailer Industry: Q2 ’20

Semi Truck on the Route
Q2 2020 was a low point for the trailer industry, which remains uncertain of its eventual rebound.  As of June 2020, OEM van backlog sat at the lowest point since 2010.  However, some bright spots included van inventories at the lowest seasonally-adjusted levels since 2016; while June saw its 12th most monthly orders in the past 25 years and most since 2018.  Further, June 2020 represented the most orders in a month since January 2020.
 

After a record setting year in 2019, 2020 trailer industry van production through June is off 39% YoY with Q2 van builds off 50% YoY.  The onset of the COVID-19 pandemic saw trailer orders disappear and backlogs shrink to seasonally-adjusted Great Recession levels.  April 2020 was the first month in the past 25 years when order cancellations exceeded new orders.

Source: ACT Research July 2020, Data Published August 19, 2020

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