Page 8 - NTDA Market Outlook Q1 2024
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        U.S. Economic Snapshot








                                                   Trailer Orders


            70000


            60000


            50000



            40000


            30000



            20000


            10000



                0
                     Jan    Feb    March   April  May    June    July   Aug    Sept    Oct    Nov     Dec

                                                  2024       2023       2022


          Source: FTR Transportation Intelligence and ACT Research

          TRAILER ORDERS

          U.S. trailer orders in February declined from the prior year but rose sequentially, according to ACT Research.

          Preliminary net data for the month showed orders fell 21% to 20,500 units from 25,800 in February 2023 but jumped 49.6% from the 13,700 units
          ordered in January.

          “Against year-ago data still impacted by pent-up demand that is now gone, softer order intake activity continues to meet expectations,” said
          Jennifer McNealy, director of commercial vehicle market research at ACT. “Net orders remain challenged by a backdrop of weak profitability for
          for-hire truckers. Anecdotal commentary from trailer manufacturers and suppliers through the past several months have indicated this slowing,
          as they have shared that orders are coming, but at a more tepid pace when compared to the last few years.”

          McNealy noted that the data continue to indicate that fleets have less of an ability or willingness to purchase equipment when they aren’t making
          as much money. However, she believes the weaker annual result doesn’t indicate a catastrophic year ahead with an economy that expanded at an
          above-trend rate in the first quarter. Plus, she notes that buyers are confronting some realities of the market.

          “Another indicator we’re watching closely is cancellations, which remained above comfortable levels for most segments in February,” McNealy
          said. “While the industry’s largest segments remain under pressure, some specialty segments have no available build slots until late in 2024 at the
          earliest, and cancellations remain low.”
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