How the North American Trucking Industry is Setting Up for 2023

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As of June 22, Daimler Truck Holding AG Board chairman, Martin Daum, said that his team continues to face “enormous” supply chain pressures including cost rises, but also added that he’s “pretty confident” for 2023 because of underlying demand and the industry’s ability to handle price increases.

This means that truck driving jobs, supply chain changes, and trucking fleets are now in demand and we can see this demand become more vocal as we head towards 2023.

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While there is underlying demand, truckload freight volumes declined for a third straight month back in May and the average rate for the spot market dipped below $2 per mile. Demand for truckload services was strong relative to May 2021, and the overall number of loads and long/short hauls increased.

Even though work and trucking demand is regaining its focus after the pandemic, it doesn’t stop the increasing price of diesel fuel. This can result in many fleets not hiring immediately as fuel prices will be holding back their budget. Prices paid by shippers to move contracted freight also hit record highs in May/June 2022 and are likely to continue increasing but plateau in the near future.

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On top of this, truckers who are getting back into work after a long pause from the pandemic need a recap of training and updates on new technologies that fleets are implementing into their short and long-haul vehicles. This might include route mapping, gear and equipment checks, and any other mandates in order to respect safety precautions. This will create a slight delay in ongoing fleet operations moving forward.

With all this said, 2023 looks a lot brighter for the industry than 2022 and as more fleets begin their active operations, more job opportunities will open up, and therefore, the industry will be able to keep up with the incoming demand.