Why is the trucking industry failing?
The trucking industry is facing a driver shortage of tens of thousands of drivers. One common reason trucking businesses fail is because they struggle to manage their drivers, finances, or business effectively – Leading to trouble finding and keeping excellent drivers or keeping their finances profitable.
What will happen to the trucking industry in 2022?
In 2022, a year that promises a hold-over in heightened demand, lower-than-usual supply levels and increased costs across the board, freight rates will rise. Spot prices, which indicate the going rate for transportation services, increased substantially over the past 12 months.
How long will the trucking business last?
Is the trucking business set to grow in 2022? Despite the challenges, many experts predict that the trucking business will grow through the rest of 2022. The ATA’s U.S. Freight Transportation Forecast to 2022 reports that freight tonnage this year will rise by 24%, with a predicted 66% increase in revenue.