Trailer orders rebound in March, but demand hinges on replacement

U.S. trailer net orders reached 18,045 units in March, up 36% month over month, according to FTR. Orders were still down 15% year over year and below the 10-year March average. For the current order season (September 2025–March 2026), trailer demand is down 19% compared to the same period last year, with year to date orders also trailing by 15%.

Production showed some improvement, with trailer builds rising 15% from February to 17,501 units. However, year-to-date production is down 1%, reflecting continued caution from manufacturers in balancing output with demand.

Dan Moyer, senior analyst, commercial vehicles, noted the following:

“Despite the healthy increase in orders, trailer demand remains largely replacement driven as fleets still have excess trailer capacity. In contrast, Class 8 demand has strengthened meaningfully, supported by improving asset utilization, firmer rate expectations, and better visibility into tariff-adjusted pricing and EPA 2027 NOx regulations – all of which combine to drive an early-cycle recovery in orders. As a result, fleet capital allocation is increasingly shifting toward power units aligned with forward-looking needs, leaving trailers relatively deprioritized despite improved freight market conditions. Meanwhile, the U.S. trailer market continues to face persistent headwinds. Elevated steel and aluminum costs, ongoing trade uncertainty, high financing costs, and constrained capital spending are limiting incremental demand and keeping orders subdued.”

There’s enough trailer capacity out there that most fleets aren’t rushing to add units, even with freight starting to level out. Instead, more of the budget is going toward Class 8 tractors, where clearer direction on EPA 2027 NOx rules may push earlier buying decisions.

At the same time, high material costs, expensive financing, and ongoing trade uncertainty continue to hold back trailer purchases.