FTR reports January 2024 net trailer orders fell 34% from December’s level to 15,518 units, which was 38% below January 2023. Total trailer orders in January were 23% below the 2023 average. The number of trailers ordered over the last 12 months decreased to just above 233,600 units.

Trailer production eased by 2% in January to 19,680 units. Production was down 22% year-over-year. This build number was the lowest since January 2023 and marks the fifth consecutive month of decline since August 2023. With orders coming in below production levels, backlogs in January fell somewhat, shedding more than 4,000 units to end at over 139,200 units.

Eric Starks, FTR’s chairman of the board, commented, “The relatively similar fall in both production and backlogs resulted in no material change to the backlog-to-build ratio, which stands at 7.1 months. This ratio is slightly elevated due to lower production levels and is above the historical average prior to 2020. A jump in the ratio is normal around the holiday season, and the overall picture is still of an industry that is continuing its move towards a pre-pandemic level of stability.”