U.S. trailer net orders totaled 7,261 units in August, down 4% month-over-month (m/m) as demand was weighed down by freight weakness, tariff pressures, and pricing uncertainty, according to FTR, the Indiana-based freight transportation forecasting firm.
The number of orders was actually up 3% compared to the same month last year, but remained well below the 10-year August average of 17,568. Another reason for that weakness was cancellations, which eased to 16% of gross orders, down from May’s peak (39%) but remained slightly above long-term norms, FTR said.
For the full 2025 order season (September 2024-August 2025), net orders totaled 188,519 units, down 5% y/y. For 2025 to date, however, net orders are up 28% y/y at 110,080 units, averaging just over 13,750 per month. This strength reflects backloaded orders following the November 2024 election, which inflated activity in the first quarter of the year.
“With builds continuing to outpace new orders, OEMs face mounting pressure to balance production against a thinning pipeline. Unless order activity strengthens with the opening of 2026 order boards, the industry may confront additional headwinds heading into next year,” Dan Moyer, senior analyst, commercial vehicles, said in a release.
“For trailer manufacturers and their suppliers, tariffs are producing costs, tighter margins, and increased risk of consolidation,” Moyer said. “Larger, integrated players are more resilient, while smaller firms are vulnerable. Many fleets are delaying replacements, relying more on used trailers and curbing expansion. The 2026 order season may start later than September for some OEMs with subdued bookings as policy uncertainty and structurally higher costs weigh on demand.”
