Posted on 11/13/2023 5:10:24 AM PST by Carriage Hill
America's trucking industry is in a dire state, which is bad news for the American economy because it serves as an indicator of the mood of consumers and their pocketbooks heading into the holiday season, one expert warned.
(Excerpt) Read more at foxbusiness.com ...
“Post pandemic, there has been a surplus of trucks and drivers compared to the amount of freight that needs transporting. As lockdown spending slowed and the cost of living continues to rise, more truckers are fighting for the same loads, which results in a “dogfight” between truckers and trucking companies, JKC Trucking Vice-President and Co-Owner Mike Kucharski told Fox News Digital.”
“Everybody’s calling this the great trucking recession, and it’s true because all the trucking companies right now are in dark times,” he said. “This is not a good time to be in the trucking industry. Just to paint a picture, the trucking industry is the engine that drives the American economy forward. We’re fueling growth [and] prosperity by transporting goods to where they need to be and when the engine breaks down or stops, it works like a heart. When that ceases to be, it brings the entire economic system to a halt.”
“Yellow Corporation, for example, which is one of the nation’s oldest and largest trucking companies, filed for Chapter 11 bankruptcy in August, laying off 30,000 employees. Convoy Inc., a Seattle-based trucking startup that was valued by investors at $3.8 billion just last year, shut down last month.”
The upside: people buying less cheap chynah products.
Another upside: a less commercialized holiday season.
btt
My email inbox has ads galore, some are Please Come Back, and these are places I’ve not shopped in 20 years. I canceled my Etsy account, I still get ads I send to Spam.
Downside: Trucks deliver food.
Yes, my wife has used my email in orders for toys for grandkids. I get emails from those places regularly.
My pallets loads aren’t getting any cheaper though. Maybe their load proces should drop and inwould order more stuff more often. As it is I make due with more local items
There are too many trucking companies.
The weak struggle and die and their betters survive and grow.
**Downside: Trucks deliver food.**
That will continue, unless we have a nationwide drought.
As a former career farmer and OTR trucker, food keeps being produced and transported.
However, wasted food has always bothered me. To me it’s almost a sin.
Yellow Trucking Co, a massive carrier, went south 2 years ago. We had a YUGE terminal north of York, that became a ghost town, but is now occupied by UPS.
Yellow was also Roadway and others I think
Truck recession can have a profound effect on the American food shopper because grocery stores have only a 24 hour inventory of food stocks. Grocery stores are serviced primarily by trucks,,,,people may go hungry.
Perhaps but I work up and down the I-5 & I-90 corridors in Washington State. Last week I started noticing less trucks on the road and many trucking companies lots full of parked tractors. We are certainly in for some interesting times ahead.
A Meijer near me has signs over certain products that say they are having delivery problems getting items in.
There are empty spots and fewer choices.
Not buying so much imported goods may be a good thing. It hurts them, not us. Our workers got shafted when the factories closed and were offshored. The damege was already done decades ago.
I agree.
Several large truck lines have gone south over the past 3yrs; Covid-19 might have been a part of that.
Trucks deliver food and fuel.
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