Page 1 - Market Outlook Q2 2024

Economic Overview
Q2, 2024
NTDA MARKET
COVID Hangover Resulting in Market
Adjustment

OUTLOOK

SEMI-TRAILER SALES

In May 2024, semi-trailer sales saw a significant decline. Net orders for trailers were reported
at 6,100 units, a 46% decrease compared to the same month in 2023 and a drop of 7,650
units from April 2024. This downturn brings the year-to-date net order activity to 68,200
units, which is 25% lower than the first five months of 2023. The reduction in orders is
attributed to a combination of economic factors, including fleet spending constraints and
high dealer inventories, according to ACT Research.

COVID HANGOVER = MARKET ADJUSTMENT

The decline in semi-trailer sales in 2024 can be partly attributed to the "COVID sales
hangover," a phenomenon resulting from the extraordinary surge in demand during the
Continued on Page 3

THIS ISSUE…

N DA PAGE S&P Global U.S. Manufacturing PMI®
Output Growth Hits 26-month High in June, Price Pressures Cool
07
NATIONAL TRAILER DEALERS ASSOCIATION
Trailer Orders Canada Wholesale Sales
NATIONAL TRAILER DEALERS ASSOCIATION 70000 50.00%
9864 E. Grand River Ave. 60000 40.00%
50000
Ste. 110-290 40000 30.00%
Brighton, MI 48116 30000 20.00%
20000 10.00%
Direct Dial: (810) 229-5960 10000 0.00%
Jan Feb March April May June July Aug Sept Oct Nov Dec
Toll-free: (800) 800-4552 0 Jan Feb March April May June July Aug Sept Oct Nov Dec -10.00%
www.ntda.org 2024 2023 2022 2024 2023 2022
US ECONOMIC CANADA ECONOMIC
facebook.com/ntdaonline SNAPSHOT SNAPSHOT
www.linkedin.com/company/ PAGES 12–30
national-trailer-dealers-association/ PAGES 32–34

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