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Trucking Industry Grapples With Q4 Slowdown
The trucking industry is no stranger to the seasonal slowdown that typically occurs during the fourth quarter of the year. However, in recent years, the industry has been implementing various strategies to address this challenge.
Small fleets, owner-operators struggle living off the current spot market
A recently updated survey on freight rates provides further evidence of the challenges faced by small fleets and owner-operators in the past year while relying on the unstable spot market and dealing with record-high diesel fuel prices. The survey was distributed on Feb. 22 by the Owner-Operator Independent Drivers Association and is conducted annually by the OOIDA Foundation, the research, safety, and education division of the small trucking advocate. It includes compelling testimony about the business realities of smaller operators in 2022 heading into 2023, with the spot market remaining sluggish but fuel prices on the rise.
Repair labor rates climbing, driving technician pay raises
Labor costs have increased, with a significant portion of the expenses directed towards tech pay. According to the survey, over three-quarters (76%) of the respondents raised their labor rates in 2022, with the Southwest U.S. region recording the highest hourly rate at $13.10. Despite having the highest overall hourly rate, the Western region reported the lowest average rate increase at $10.20 per hour. Of the shops that raised their labor rates, 92% passed on the pay raise to their technicians. Furthermore, 42% of shops that didn’t increase labor rates still gave their technicians a salary bump.
4 steps to improving compliance and operations in 2023
The Federal Motor Carrier Safety Administration reported that in 2022, state and federal transportation departments carried out 12,234 safety investigations, encompassing both on-site and off-site inspections. An overwhelming 95% of these investigations revealed violations.
Although the number of investigations and percentage of violations is consistent with previous years, fleets can expect steeper penalties for non-compliance in 2023.
FEBUARY 2023 CASE STUDIES
4-UNIT ACCOUNTRENO, NV
FORT LAUDERDALE, FL
FORT LAUDERDALE, FL