October 26, 2023
The road of pain has lengthened month by month; last year trucker revenues rose 7%, whereas costs climbed 22%, according to Freight 360. Moreover, many who struck out on their own during the pandemic bought trucks at inflated prices, and now find the interest payments tougher to sustain.
“As trucking raters continue to plummet, many trucking providers are operating at a loss to maintain revenue streams,” said Paul Brashier, VP drayage and intermodal at ITS Logistics. “While diesel prices continue to increase, more freight carriers are expected to exit the market.”
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