Trucking Industry to expect higher prices, and unfortunate potential disruptions in second half of the year

Unfortunately, the fight to stop inflation is not going too well. The trucking industry has seen rate and intense hikes throughout 2022. The trucking industry accounts for over 2/3 of transportation throughout the United States. With the lack of truck drivers available this is also accounting for several rate hikes. Hopefully, the distributers and purchasers continue to understand and respect truck drivers overall as an industry. As this country seems to not be headed in the right direction and the economy continues to fall, we all must hope that at the minimum we would be able to elevate the trucking industry and allow our most essential workforce to be respected and appreciated to an extent it is not currently receiving. We must continue to keep the economy going so that our workforce may also stay afloat.

For more information, regarding economic disruptions please preview article from Frank Holland of MSN.

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Publishing Date: August 28, 2022 

Author: Frank Holland 

U.S. trucking CEOs expect to maintain pricing power even with volumes softening in the second half of 2022 as retailers, manufacturers and consumers adjust to disruptions from Covid lockdowns, the Russia-Ukraine war and inflation.

A recent survey of customers by SAIA, a trucker for Starbucks, Home Depot and Lowe's, found the majority of companies are still working to figure out their next step and what the "new normal" is for their business, according to CEO Fritz Holzgrefe.

"They were talking a lot about continuing to rebuild inventory positions, straightening out their supply chains through the balance of the year, even into the first part of next year," Holzgrefe told CNBC. "Maybe things have slowed a bit, but customers are still continuing to re-sort their supply chain position to more effectively to achieve their goals in their respective businesses."