Trucking news and briefs for Thursday, Oct. 20, 2022:
The trucking industry moved 10.93 billion tons of freight in 2021, generating $875.5 billion in revenue, according to the latest edition of American Trucking Associations’ American Trucking Trends 2022.
“The overall truck freight market bounced back in 2021 after falling in 2020,” said ATA Chief Economist Bob Costello. “Trends is a valuable resource to track changes in our industry, and this year’s edition is no different. This year’s report found that despite a challenging environment, trucking did experience growth and maintained its position as the dominant freight mode.”
Among the findings in trends, in 2021:
“ATA believes in data-driven policy making, and Trends consistently provides accurate and up-to-date information so industry leaders can base their decisions on the best data available,” said ATA President and CEO Chris Spear. “Trends is a trusted source of information on our industry and the economy and that is why it is found on the desks of countless elected officials, regulators and industry executives across the country.”
Truck tonnage was up 5.5% in September compared to the same month a year ago — the 13th straight year-over-year gain.
“The latest gain put tonnage at the highest level since August 2019 and the third highest level on record,” said ATA Chief Economist Bob Costello. “This is another example of how the contract freight market remains strong despite weakness in the spot market this year. During the third quarter, tonnage increased 0.5% over the second quarter while increasing 5.6% over the same period in 2021. That was the largest quarterly year-over-year increase since the second quarter of 2018.”
