Trailer Orders Tank In March, Following Class 8 Trucks Into Abyss
Orders of new trailers plummeted 55% in March from the same month a year ago as an industry already struggling with tepid orders and excess inventory was hit by the coronavirus pandemic. Wabash National Corp. (NYSE: WNC ) said it was suspending production at its plants for two weeks to cope with lower demand. FTR Transportation Intelligence reported that its preliminary count of trailer bookings in March was 6,500, 54% below an already depressed February count. Large orders canceled Some large fleets canceled dry van orders that were spread out over the remainder of the year, FTR said. A pullback in trailer orders was expected this year after more than 650,000 trailers were produced in 2018 and 2019. Trailer orders for the past 12 months total 177,000 units. "It is expected there will be some over-capacity in the short-term due to the enormous number … Full story available on Benzinga.com
Trailer Orders Tank In March, Following Class 8 Trucks Into Abyss
Orders of new trailers plummeted 55% in March from the same month a year ago as an industry already struggling with tepid orders and excess inventory was hit by the coronavirus pandemic. Wabash National Corp. (NYSE: WNC ) said it was suspending production at its plants for two weeks to cope with lower demand. FTR Transportation Intelligence reported that its preliminary count of trailer bookings in March was 6,500, 54% below an already depressed February count. Large orders canceled Some large fleets canceled dry van orders that were spread out over the remainder of the year, FTR said. A pullback in trailer orders was expected this year after more than 650,000 trailers were produced in 2018 and 2019. Trailer orders for the past 12 months total 177,000 units. "It is expected there will be some over-capacity in the short-term due to the enormous number … Full story available on Benzinga.com