U.S. Truck Trailer Price Accelerates, Soaring 17% to $8,791 per Unit
U.S. Truck Trailer Import Price August 2022
In August 2022, the average truck trailer price amounted to $8,791 (CIF, US) per unit, with an increase of 17% against the previous month. In general, import price indicated a resilient increase from January 2022 to August 2022: its price increased at an average monthly rate of +8.1% over the last seven-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on August 2022 figures, truck trailer import price decreased by -11.3% against June 2022 indices. The growth pace was the most rapid in June 2022 an increase of 41% month-to-month. As a result, import price attained the peak level of $9.9M per thousand units; afterwards, it flattened through to August 2022. Prices varied noticeably by the country of origin: the country with the highest price was Canada ($24,715 per unit), while the price for China ($694 per unit) was amongst the lowest. From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by China (+16.0%), while the prices for the other major suppliers experienced mixed trend patterns.
U.S. Truck Trailer Imports
In August 2022, truck trailer imports into the United States contracted slightly to 44K units, flattening at July 2022 figures. Overall, imports continue to indicate a mild shrinkage. The growth pace was the most rapid in July 2022 with an increase of 30% month-to-month. Imports peaked at 62K units in February 2022; however, from March 2022 to August 2022, imports stood at a somewhat lower figure. In value terms, truck trailer imports soared to $387M (IndexBox estimates) in August 2022. The total import value increased at an average monthly rate of +6.5% over the period from January 2022 to August 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The most prominent rate of growth was recorded in March 2022 when imports increased by 26% m-o-m. Imports peaked in August 2022.
U.S. Truck Trailer Imports by Country
In August 2022, China (28K units) constituted the largest truck trailer supplier to the United States, with a 64% share of total imports. Moreover, truck trailer imports from China exceeded the figures recorded by the second-largest supplier, Mexico (14K units), twofold. From January 2022 to August 2022, the average monthly rate of growth in terms of volume from China amounted to -3.9%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (+5.6% per month) and Canada (+0.3% per month). In value terms, Mexico ($333M) constituted the largest supplier of truck trailer to the United States, comprising 86% of total imports. The second position in the ranking was taken by Canada ($27M), with a 7.1% share of total imports. From January 2022 to August 2022, the average monthly rate of growth in terms of value from Mexico totaled +7.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Canada (-1.5% per month) and China (+11.5% per month)
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