FTR reports that February trailer orders outpaced January by approximately 37% to a total of 21,331 units. February trailer order activity was 9% above the average for the last 12 months but down 18% from February 2023. The total number of trailer orders over the last 12 months decreased to 228,900 units.

Trailer production increased by 22% month-over-month in February to 24,102 units but was down 12% year-over-year. This build number is in line with the average production level seen over the past three years. With orders coming in below production levels, backlogs in February fell somewhat, shedding almost 2,800 units to end at more than 137,400 units.

Eric Starks, FTR’s chairman of the board, commented, “The increase in production, coupled with the fall in backlogs, resulted in some downward change to the backlog-to-build ratio, which stands at 5.7 months. This ratio is right in line with the average level for the last half of 2023 and is slightly below the historical average prior to 2020. A fall in the ratio is normal following the holiday season, and the overall picture is still that of an industry that is continuing its move towards stability.”