Trucking Industry Update | Rates, Cost and Capacity
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- Опубликовано: 3 июн 2024
- Are we on the rise or still headed downhill? Join Paul Pfeiffer, CFO of Anderson Trucking Service, as he talks directly to drivers about the challenges ahead in 2024.
For more tips tailored to truck drivers, check out our Learning Center here: hubs.la/Q02nqQ7r0
00:00 Trucking Industry Update
00:29 Freight Recession
01:22 2024 Trucking Industry Forecast
02:46 Demand
03:09 Supply
03:30 Cost
03:54 Rates
04:59 Final Takeaways
#overtheroad #overtheroadats #otr 
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Paul,
Thank you for the insight from your end. Trucking stability will exist when drivers will raise their own standards and refuse to be a slave to a trucking company.
Every CDL school (and unemployment office) in the country will still advertise this as an industry currently in desperate need of more drivers. Why? Because they all primarily depend on federal WOIA grants to keep students flowing in. And that program requires the recipient to be entering into a high-demand field.
Very interesting. Thanks for sharing!
and that is one of the biggest problems why wages are not increasing
We are screwed. More money working at 18.00 an hour at a truck stop. Trucks sitting for days. No loads. Fuel does not cover actual miles. We are all screwed.
Thank you for the honest insight. I drove long-haul across North America for many years and now work in Operations.
We're seeing this in Canada too, and while certainly not good news until 2025 everything WILL be ok.
The sky is not falling, and for every down there is an up. The economy will readjust itself and fat will be cut for the betterment of lean operations. Your best drivers and staff will remain and life will go on - just different. Everyone needs to relax.. It'll all be ok! :)
Well stated! Thanks for keeping the optimism going! You are correct, it will all be okay. The industry goes back and forth, this is nothing new, it's just taking longer to get through it than normal.
I'm 65 years old truck driver used to be a high paid occupation with a good income to go with it
yeah 45 years ago
How much you are making a week?
Nothing will change
How to Stay Positive as a Truck Driver [Especially in Challenging Markets]: blog.drive4ats.com/truck-driver-positivity-tips
The reason it’s not going to change because we are in different times. Social media has popularized trucking a get rich quick thing so everybody is jumping in and nobody is actually telling the truth. Right now I’m about to lose everything and I did everything right as a owner, I cut all expenses, I actually lived out of my truck, I don’t idle and I stay on the road but now it’s just not any loads worth booking so I’m out
I like the comment about lowering Idle times, lowering fuel and maintenance cost by having APU'S. Thats ironic that not all ATS trucks have APU'S. Lease Operators dont even have the option for a APU. How are we supposed to be comfortable and expect to meet unrealistic unrealistic percentages for idle and fuel if we are forced to idle to be comfortable while on the road.
There are PLENTY of inexpensive ways to be comfortable in your truck than an overpriced APU. Also, if your in a position where the cost savings from an APU is the make or break then you have serious other issues that your not understanding.
@@JAleksandr What are those other ways?
In my opinion APU from factory or dealer "overpriced" cause this solution designed and tested. And everyone who sells it wants to have valuable profit. From my point of view possible to save some money by DIY APU can be done by couple high capacity LiFePo4 or LTO batteries and additional electrical air-conditioner, inverter with DC DC charger (to charge battery right way and save truck wiring) from alternator, hopefully many trucks have auxiliary heater for cold nights. Anyway DIY means to have knowledge of what needs to do safe way.
@@scav3155 my last APU I put on a truck was in 2007 and it was on a 2007 379. That was when they were quite a bit cheaper too! That truck got wrecked (a no fault, got hit by another truck and the insurance didn’t come close to making me whole as I blew a TON on extra bs for that truck…). From then on I decided to find less expensive. I’m a HUGE fan on the Harbor Freight 3500/4375 generators, they are inexpensive and if you buy the extended warranty for $80 when you hit close to the 2nd year you drain all the fluids and take it in and exchange for a new one. After the exchange the one I’m running now is on its third year. I also run an “in-home” tower style 8k btu a/c unit for cooling during the summer months. When I bought this 389 it came with the espar bunk heater and the annual rebuild kit for that is like $20. My generator advertises 16hrs runtime on a 4 gallon tank which is what I get when running my A/C constantly. Initial investment of less than $1000.00. My fixed expense has averaged it costing me $200 a year, you will also spend more on the maintenance of an APU. Fuel consumption on APU’s some will advertise 1/10 gal an hour as opposed to I know I’m using between 1/4-1/5 gal an hour but I’m also burning gas as opposed to diesel so that brings the cost a little closer. Sure makes it hard to justify spending $10k-$12k for an APU.
@@joshb2088 zero f’s given about cleaner or dirtier…do you have ANY idea about the added expense of idling your truck engine vs using an APU or alternative?? I’m not just talking about fuel costs..I’m talking the added pm maintenance and faster time to rebuild…personally I’m getting ready to spend almost 35k in rebuilding the CAT in my ‘06 Pete…
If drivers would get together and take some time off, pay would go up, and truck drivers should make 100.000 a year for all the time they work,
I hear you. Drivers deserve fair pay for their hard work. Here's an article we did with 9 tips to increase truck driver pay in 2024: blog.drive4ats.com/increase-truck-driver-salary-tips
Some of us are to condition to think for ourselves.
Honest and wise words.
The CFO of ATS lectures and offers platitudes to the “industry drivers”. But, says nothing to the us ATS drivers. You are not talking to us. But, we are listening.
Your input matters, and it's important to listen to drivers and communicate better. Whatever concerns you have, we'll do our best to address them.
@@OverTheRoadATSI'll tell you what. People better pray that oil doesn't get to 130 dollars a barrel. Remember these words.
No you were not listening too well. His whole message was speaking about the whole business and industry then you are in. He explained your world. And most importantly, at the 5-minute Mark he addressed drivers specifically. Go back and listen to it again if you're really intent on listening.
Great insight!
Thank you!
Great honest insight
Thanks for watching!
Thank you
You're welcome!
Very informative
Thank you!
Paul have great insight.
Thanks Ralph!
Been on the brokerage side for 7 years, this time of trucking reminds me of 2018 x 10.. It was bad then and now its really bad. Theres always eb and flows to the markets but with the current state of our economy and consumer spending slowing down and the credit card debt its gonna impact the shippers in turn slowing the amount of loads out. Also weve seen our customers (my personal customers also) go to mini bids every 3 months to really get skinny with rates.. On some lanes where we were contracted making $100-200 a load is now down to average of $50 and or just breaking even..
My company folded in 2012. I lost everything. My home, Trying so hard to make it. The crime partner had 2 sets of books. I had a gun put on me when I said I was wise. Then this person bankrupted the company. God have favor upon me. 65 can never drive again due to a severe back injury. I pray to good to keep all the real truckers safe. When a fellow trucker has no food to eat after paying off all the expenses and told me he had not eaten in 3 days. Heartbreaking. I got him some food. He is on day 12 no load. This is scary stuff. God bless all. ,
This business has not had a real fright increase or pay in nearly 50 years. I believe we are still making 1970's wages.
So true.
WoW, good information. When do you think we will come out of this, and what indicators are you watching for? Thank you.
Thank you! It's hard to predict exactly when we'll come out of the current situation, but there are a few key indicators to watch for. Look for improvements in freight demand, a rise in shipping rates, and a decrease in fuel prices. Economic indicators such as GDP growth and consumer spending can also provide insights. Check out our learning center to stay up to date on all things trucking: hubs.la/Q02nqQ7r0
thanks for the update....
Hey Francis! It's not particularly the best news but the industry is cyclical and will come back around. Here's some tips for hauling freight in a soft market: blog.drive4ats.com/hauling-freight-during-downturn-market
I hope this helps!
@@OverTheRoadATS I will mention that I currently work for carrier and I’m frustrated by the amount of loads that I am getting per week and it feels harder because of the amount of scent per mile that I am getting which is minimum at best. So your update does offer a little comfort and a little hope but I will tell you that waiting for someone else to turn the market around for you does not make me feel comfortable. I don’t like to stand still I just want to make a honest pay for honest work..
I understand that. Waiting for the market to change is tough. A lot of drivers got in when it was good and now we are feeling the effects of it balancing out. Keep pushing forward. Wishing you success during this time!
I have a local hauling business with a single axle dump truck and do excavator work and things like that. I do not see how these tri axle dumps and larger haul material for what they do sometimes. I know what it takes to maintain my 10 ton truck much less a 20 ton or larger with more tires and upkeep. Blows my mind how some of them keep going.
They likely rely on handling lots of jobs to balance out the expenses - Definitely impressive how they keep it all going!
@@OverTheRoadATS yes definitely a balancing act for sure! Different trucks and different market.
Someone explain how freight bieng the blood that is transported through interstates(veins) is not a direct indicator of economic downturn or uptick? How can you have a Freight recession but not a Economic Recession?
You're right to see freight as a vital sign of the economy. When the trucking industry slows down, it often signals economic troubles ahead. But it's not always a perfect match-trucking can face its own issues that don't reflect the whole economy. Still, when trucking picks up, it's a good sign things are looking up economically, too. It's like a warning signal: bad news first, but also good news early.
Because the government is cooking the books they constantly lie and or skew #s
They are hiding the truth with manipulation.
Police and DOT must to pay more attention to uninsured carriers doing to the owner operators running just with a COI, and drivers without licence.
It's definitely important for safety and fairness in the industry.
Thanks!
You bet!
@@OverTheRoadATSthis is a result of the Covid war. It did it's job. And so did our current President.
Thank you, over the target...
How does the Infrastructure Bill will impact the flatbed division? And when should we see those positive (+)or negative(-) signs? Thanks for this good info!
No problem, Jose! Here's an article ATS did on how the infrastructure bill will impact the trucking industry: www.atsinc.com/blog/infrastructure-bill-impact-on-trucking-industry
@@OverTheRoadATS after spending most of my career in Wall St as a data analyst… I could say that you guys have a very well structured Business Analytics team processing and validating data from all different sources and a good Communication or PR group that publishes all your insights and results! Good job guys! And thanks for the link! 👍👍
@@OverTheRoadATS I’m a flatbed truck driver now… that’s why I was asking about the infrastructure bill. Thanks again! 👍
Thank you! How to be with thousands of Chinese containers reaching out the U.S. this coming days. The quantity is 25% up YoY and looks very same to the volume of 2022.
Thanks for sharing
@@OverTheRoadATS My pleasure Sir! Source of information: Sonar
The higher exsenses in the trucking industry need to be passed on to the shippers, and if they are not willing to pay to cover the cost, then dont move the fright. Truckers and carriers can't afford to lose money moving the fright that the big companies are posting decent or higher profit margins on if your not charging like you just got a new truck and trailer your killing your self
Lots of freight on 2 mile long trains
$10,000 for a APU. I can idle a long time for that much. Or here's a novel idea, shut the truck off
An APU has an upfront cost, but it not only saves on fuel but on engine wear by eliminating the need to idle. Over time, it pays off in fuel savings and extends your truck's lifespan. Especially during the winter.
Here's an article we did on If APUs are worth it: blog.drive4ats.com/apu-investment-cost-tips
Won’t have anything for us until they ban the lease purchase. How many of them end in the driver not making any money after a few weeks or so. Most will just keep repeating the process
Hourly pay for all hrs. Then we’ll talk about you appreciating us
Interesting idea. It would certainly change the dynamics of compensation and likely lead to deeper conversations about valuing the contributions of truckers in the industry.
Here's an article we did on 7 types of truck driver pay structures: blog.drive4ats.com/truck-drivers-pay-structure
Needed to push for 3 high for the Railroads as an Industry decades ago as without the Class 8 Rail the entire US Trucking Industry fails. Also the whole DEF thing has turned into a total disaster as well. Trying to have the US Trucking Industry compete head to head with actual Ships and Barges is not viable. Even Union Shops like United Parcel Service are starting to get hit hard. Tesla remains the only new thing in the Trucking Industry in the past 50 Years as yes that will lower both costs and freight rates *SUBSTANTIALLY* if Tesla is ever allowed to actually exist. Plus safety will absolutely soar as well. In the meantime its BK for the entire Industry quite suddenly absolutely.
APUs are $10,000. Won't see that money back for a while.
That's a big cost upfront for sure, but using an APU can save a lot on fuel and maintenance over time. So even though it takes a while to make that money back, it's usually worth it in the end. Especially for preventative maintenance.
Here's an article we did on if APUs are worth it: blog.drive4ats.com/apu-investment-cost-tips
Why are APU's so expensive?
Mine was 14k but it will pay you back in under a year & most importantly save you from engine wear tear & costly issues
@@scav3155 because of no idling laws.
Truck driving isn’t a special Career as it probably once was. Lots of people look at this line of work as a job
This is the only industry where the requirements don’t mean ANYTHING. It’s too easy to become a driver/ obtain a CDL results in industry saturation, companies paying New drivers Pennies on the dollar
Thank you for sharing your thoughts. It's important to hear different perspectives on this.
Every time you ask anyone about anything everyone suddenly have selective amnesia it is all a scam.
We are sorry that you feel that way, are there any questions we can answer for you to clear things up?
its just not worth it anymore. just a soul sucking job
I understand your frustration. Trucking can be demanding and challenging, and it's important to prioritize your well-being. If you're feeling drained and unhappy in your current role, it may be worth exploring other career options or considering changes within the industry, such as switching to a different type of trucking or seeking support to improve work-life balance. Your health and happiness should always come first.
@@OverTheRoadATS i quit on Xmas day. 6 years of drivin. it ruined my life in so many ways
Yes! We're not getting paying nothing bro.
Hello sir , I have 2 years experience to truck driver in india . And we want trucks to drive in America. Can the company call us and we will bear the expenses. in place help
If you fill out this quick app, a driver consultant will be in touch with you: www.drive4ats.com/apply-now
Market is only going to get worse.
Although things might seem tough, the trucking industry has faced difficulties before and found ways to overcome them.
The great fortune teller 😂,
this has been going on for three years and it's getting worse and worse
It's true that the situation has been challenging for several years, there's some potential for improvement ahead with spot rates possibly increasing in the third quarter, which could bring some relief.
It's all a guessing game