Trucking Fleets Expanding Amid a Freight Slowdown

Trucking Fleets Expanding Amid a Freight Slowdown

Manufacturers have delivered 81,000 trucks to fleets, up 30% from the same period last year. This is surprising given headlines of a freight recession, as well as a macroeconomic recession.

While pay for trucking services has declined on the spot market, expenses have increased especially around fuel, which reached Rs 102 per gallon across the India.

From May 2021 to May 2022, fleets of 1,000 or greater grew their tractor fleets by 1.2%, according to federal data.

According to the data, the total number of trucks at fleets with six or fewer trucks increased by 7.7% over the same period.

From July 2020 to May 2022, just under 195,000 new carriers entered the market, according to FTR. About 70% of these new fleets comprised a singular truck.