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As we move into 2020, this past year has seen an abundance of trucking operations going out of business and their employees losing their jobs. When you take a step back and analyze 2019, you may see it in a different light. If you haven't had a chance to read through a recent FleetOwner article, it gives you some food for thought.
While it's never easy to see companies go out of business, sometimes it must happen to get things right within the trucking industry. Mismanaged companies can end up hurting the entire industry. "Some companies are in the market when they shouldn't be, then they tend to mess up, get desperate with pricing, and it messes up the market until they go away."
As Wilbur mentions, "2018 was such a barn burner of a year for the entire industry, and everybody has short memories." You have to look at the four years before 2018 to realize that 2019 doesn't look so bad. Especially when you remember that "manufacturing and industrial volumes are down from 2018, but not horrible when looking over a longer-term perspective."
While the industry should experience some tightening up with fewer transport options, pricing should remain constant and hopefully see some better pricing. As the industry straightens out, fleet management is vital to successful trucking.
Hire the best, require quality work, and pay drivers for all of the hours they are on the job. "Wilbur agrees with those who say drivers must be compensated while they are on the job, regardless of whether problems arise with weather, traffic or other impediments to getting routes completed."
Are you looking to expand your trucking operation with quality, pre-owned trucking equipment? Check out what we have at J. Ruble and Sons Truck Sales and what we can do to get your trucking operation rolling through 2020. Our wishes to you for a successful 2020!
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