Orders of new truck trailers plummeted 97% between March and April and plunged 99% from previous year levels, according to a new report from ACT Research, which tracks trucking industry trends.
Before accounting for late cancellations, ACT was initially expecting to see a drop of 57% in April.
"It is difficult to comprehend a report of 209 net total trailer orders in April," says Frank Maly, the company's director of transportation analysis and research. "By far the weakest monthly net order volume in industry history, April was disturbingly close to a net negative order month.
"Several discussions regarding April included comments indicating that the shift in fleet investment (plans) was abrupt, and more concerning were comments that fleet confidence continued to worsen in May, with recent descriptions depicting the market as the worst ever experienced.”
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