How The Growth of the U.s. Economy Will Impact Truck Pricing

In the past years there has been an increase of demand for trucking carriers. As a result, the variable between supply and demand for trucking carriers and shippers is reaching its capacity levels. This is causing a surge in pressure as demand is growing which will result in the price that shippers pay to rise. The growth of the demand in the industry can be seen through the volume metrics. There is a lower empty mile percentage, increasing average miles per truck as well as growing prices.

Another factor that can drastically affect the pricing is the Electronic Logging Device mandate that goes into effect this December. With many small trucking companies and independent drivers holding back on following the regulation, the availability of the trucks will decrease. An increase in price is also expected as Trucking companies try to balance the cost of installing the ELD.

All these factors demonstrate that as the economy continues to grow, and the capacity tightens the effect will be higher rates.
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To read Joc’s article on the topic click here.

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