However, there is one constant that has always remained; trucking is one of the most honorable professions in the world. A truck driver does nothing for themselves. They are always doing something for somebody else be it a shipper, a receiver, a dispatcher, or for others on the road.
The rapid expansion of telemedicine options provides another treatment avenue for truck drivers to help stop the spread of COVID-19.
For carriers with loads to haul, they now have an advantage in negotiating rates, as the weekly DHL Supply Chain Pricing Power Index has risen to 55.
President Trump has signed the Families First Coronavirus Response Act into law, which requires many employers to provide paid leave and expands FMLA for many employees
As COVID-19 spreads, truckload carriers are facing an unknown world. TCA is trying to help them navigate that uncertainty.
BMO, one of the largest lenders to the trucking industry, will be offering undefined measures to assist its clients as a result of the coronavirus pandemic.
Pennsylvania has closed its 65 rest stops, drawing the ire of the industry, as officials say they may reconsider.
Travel plazas are balancing social distancing to prevent the possible spread of coronavirus with providing food and services to truckers, whose dining options in some cases are limited to drive thru and carryout.
Some segments of the freight markets are seeing bumps right now, but the long-term outlook is murkier than ever.
The FMCSA hours-of-service waiver has sparked confusion over what is considered emergency relief.
The Truckload Carriers Association continues to push for a broad-based infrastructure funding mechanism rather than a truck-only scheme that would increase taxes on the industry.
Lawmakers have proposed a bill that would dedicate $755 million over five years to build new truck parking spaces across the country.
In my previous life as a Truck Dealer, I habitually tracked our Gross Margin on both the Sales as well as the Parts/Service side (it was our lifeblood). Further, through my participation in benchmarking within the Dealer market, it reinforced the value of:
Identifying and measuring your fixed and variable expenses relative to each other
Always striving to increase Gross Margin (Revenue minus Variable Expenses)
Despite already wrestling with a challenging trucking industry, the situation is growing increasingly tougher as the Coronavirus (COVID-19) continues to spread. As capacity goes through a state of flux, and the shipping community gets challenged with matching capacity with oscillating inventory and manufacturing challenges, the country’s trucking community will continue to find solutions.
Virus-related demand headwinds bring fresh declines in February Cass data. Visibility into a potential trucking recovery is further clouded.
The current talk on the Coronavirus has basically created a huge pause in the market. The fear of the unknown of this virus is only adding to the further unknowns the industry is tackling. The capacity of trucks seems to be dwindling with financial failures; carriers just quitting business; the low number of new units purchased in 2019 and on order now; plus the plummeting used truck values.
I have enjoyed my tenure as TCA Profitability Program (TPP) Retention Coach for many reasons but mostly as it has given me the opportunity to visit several trucking companies on both sides of the border. I genuinely love taking a brief look “under the hood” of these great companies and relish the opportunities in helping to reduce the driver turnover numbers. Helping to make a company successful gives me great deal of pride when drivers don’t have to go home and tell their families they no longer have a job.
TCA supports this legislation as it complements the work already being done from within the trucking community to promote our well-paying jobs to quality candidates.
Profitability is the key to any business staying in business. In trucking it is harder than in many other businesses. Chris Henry explores the “trucking profitability paradox.”
Program members will have several opportunities to network in Orlando next week.
