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In the past few years, the U.S. economy has witnessed a sharp surge leading to increased transportation of inventories and goods. Due to these trends, trucking companies are forced to replace the aging trucks in their fleet.
A steep reduction in truck supply can be attributed to the increasing demands for freights and a pressing need to replace the old trucks. The sales of class-8 trucks have been impressive with a jump of almost 59% from the last year's figures. The industrial production has been at its all-time high and it has put more pressure on truck production.
The crippling shortage of drivers is also a major factor leading to this shortage. It can be countered by a new-generation trucking technology enhancing the safety and performance. This will attract a new breed of drivers.
Overcoming the shortage of Trucks:
The truck shortage isn't a new phenomenon in the transportation industry. In the recent history, events like strict emission norms and economic recession have also created similar situations. The data collected over these years has indicated that shorter lifecycles can add to the cost savings for truckers.
Leasing can be a potential solution to this issue. The operators can replace their equipment every 3-4 years instead of completing lifecycles of 8-10 years. This change in procurement strategy will help them invest in efficient trucks leading to lesser downtime.
The impact of used trucks can't be undermined in this scenario. It is based on the factors of price, availability, and reselling of equipment. The buyers can invest in the young used equipment fitted with a robust engine and latest safety features.
Hence, it can be said that fleets should have a proper acquisition strategy in place for procurement of equipment. They should rely on a data-driven plan and emphasize reduced asset life-cycles.
Used or refurbished trucks can be a problem-solver to a great extent.Contact JRuble and Sons to find out how we can help.
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