Trucking Companies Bullish on Economic Outlook for 2015



According to an article in the Journal of Commerce (JOC), trucking companies are increasingly bullish on the economic outlook for 2015. Citing a Q4 survey from GE Capital Transportation Services, JOC noted that the surveyed carriers plan to add more tractors and trailers and hire more people.

JOC said, citing the survey, nearly half the mid-market motor carriers said they will add more equipment in the next 12 months than they did in the previous 12 months as they increase business with existing customers, reduce deadhead miles and expand regionally.

According to the JOC, the U.S. economy has been expanding at a rate higher than 3.5% for four of the last five quarters, finally generating enough freight demand to significantly boost trucking revenue while tightening supply to the point where carriers can win substantial rate increases.

According to a Fall 2014 GE Capital Industry Research Update on Truck Transportation, sales of new heavy duty trucks have rebounded strongly since a seasonal and weather induced dip early in the year. Class 8 truck sales have accelerated strongly through the summer and into the Fall. During September, sales exceeded 20,000 for only the second month over the past eight years. For the six months through September, heavy duty sales were up 21% compared to the same time frame a year earlier. Similarly, builds during the six months through September were running 26% ahead of the same period a year earlier.

To view the full Journal of Commerce report (subscription required), click here.

To view the full GE Capital Truck Transportation Industry Update (Fall 2014), click here.


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com