U.S. trailer orders staged a significant rebound in October, according to FTR’s latest market data, offering a brief lift in an otherwise subdued order season. Net orders climbed 77 percent month-over-month to 15,916 units, signaling stronger fleet engagement and fewer cancellations. However, volumes still landed 5 percent below year-ago levels and remain well under the long-term October average of 37,116 units.
This balance of optimism and caution reflects a market still wrestling with soft freight demand, tight margins, elevated input costs, and a high degree of uncertainty surrounding trade policy and macroeconomic conditions.
Cancellations eased slightly to just above 5 percent, hinting at some stabilization. Yet many fleets remain hesitant to commit to 2026 equipment until pricing clarity and economic visibility improve. The modest year-over-year decline in October underscores that ordering behavior remains replacement-oriented rather than growth-driven.
Year-to-date, net trailer orders total 135,525 units—up 18 percent from last year. Much of this improvement stems from demand that was pushed into early 2025 following the late-2024 election cycle. Even so, early signs for the 2026 cycle have been softer, with September and October orders down 15 percent year-over-year.
Trailer production dipped 2 percent month-over-month but remained 2 percent above prior-year levels at 17,527 units. Many OEMs continue building at elevated rates—likely to maintain labor continuity, support fixed-cost absorption, manage end-of-year inventory, or get ahead of potential tariff-related cost pressures.
Backlogs fell to 71,990 units, the lowest point since mid-2020. With production outpacing demand, OEMs may face pressure to adjust build rates if the 2026 order season does not strengthen soon.
“The U.S. trailer market continues to experience meaningful pressure from volatile trade policy, elevated material costs, and weakening fleet sentiment. Although a Supreme Court ruling could eliminate country-specific tariffs depending on the outcome, the main tariff cost for the trailer industry comes from the 50 percent Section 232 tariffs on steel, aluminum, and copper that will be unaffected.
“OEMs and suppliers are adjusting to higher costs and softer demand through selective price increases, tighter cost controls, and sourcing shifts. Fleets are extending equipment life cycles, prioritizing maintenance, and limiting new capital commitments as elevated costs and policy uncertainty continue to weigh on near-term trailer demand.”
The October rebound offers a welcome sign of renewed activity, but sustained improvement will depend on how fleets navigate economic uncertainty, policy developments, and cost pressures in the months ahead. As 2026 planning ramps up, order activity will reveal whether fleets remain cautious or begin laying the groundwork for a more active replacement cycle.
For charts, detailed data, and ongoing updates, visit the FTR Trailer Orders page:
www.ftrintel.com/trailer-orders