Truck driver shortage could boost consumer prices

FAIRFIELD, Ohio - Fairfield-based Osborne Trucking is so bullish on the economic recovery that the firm bought 28 new trucks and trailers.

“In the past six months we’ve invested roughly $4 million in new equipment,” said Executive Vice-President Brant Osborne.

However, there’s a problem shared by logistics firms throughout Greater Cincinnati and in many parts of the country.
There aren’t enough drivers to get behind the wheel of the shiny red and black rigs.

“The challenge is finding drivers who are qualified to do the job and are interested in working,” said

Osborne’s Transportation Vice-President John Holmes. “We’re looking to hire at least 20 more right now.”

It’s a problem that could mean higher prices for consumer goods as the cost of shipping products increases.

The recession caused many trucking firms to go out of business and many drivers to either retire or seek other occupations.

Now, data from the American Trucking Association (ATA) indicates that the amount of freight that needs to be shipped is up seven percent from May 2009 to May 2010.

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Truck driver shortage could boost consumer prices
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Economy's pulse found in trucking


pulled from Central Illinois News Center September 22/2010
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Good News from Daimler Trucks - Truckinginfo.com

9/21/2010

Trucking Info.com
By Steve Sturgess, Executive Editor

The world truck market is predicted to grow more than 50 percent by 2015, said Daimler Trucks chief executive Andreas Renschler, speaking at a press event on the eve of the 2010 Hannover truck show in Germany.

This will be driven in small part ny the triad nations in North America, the European Community and Japan. But most of the growth will come from the BRIC nations -- Brazil, Russia, India and China -- and the newly identified Next 11 emerging economies...

To read the rest of the article click hereGood News from Daimler Trucks - Truckinginfo.com
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Transport Topics Online | Trucking, Freight Transportation and Logistics News Obama Proposes $50B for Transportation

President Barack Obama Monday opened discussion of the next six-year transportation re-authorization bill with a proposal to establish an infrastructure bank and spend $50 billion to help fund work on highways, railroads and airports.
The president’s proposal included money to rebuild 150,000 miles of roads, construct and maintain 4,000 miles of rail and overhaul 150 miles of runways, a White House statement said.
Obama also is asking Congress to extend permanently and expand a research-and-development tax credit for businesses, costing about $100 billion over a decade, Bloomberg News said.

The article is continued at Transport Topics Online | Trucking, Freight Transportation and Logistics News Obama Proposes $50B for Transportation
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Used Truck Sales Slow in July on Year-Over-Year Gain - Truckinginfo.com

From Trucking Info Magazine


9/1/2010 Used Truck Sales Slow in July on Year-Over-Year Gain


Used truck sales fell 20 percent from June to July, but unit sales are still up on a year-over-year basis, according to ACT Research Co. In the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, ACT said used truck sales are 43 percent above 2009 on a year-to-date basis.

Average used truck prices continued to move slightly higher in July, despite a slight rise in average age and miles of sold units.
"The average mileage of used Class 8 trucks sold in July rose above trend due to a higher than average number of older trucks being wholesaled," said Steve Tam, vice president-commercial vehicle sector with ACT. "Anecdotal evidence suggests a shortage of late model, low mileage equipment. This trend will likely continue for several more months until new truck purchases increase and bring in equipment that sat idle during the economic slowdown."

The ACT Used Truck database includes about 2,500 transactions per month and over 100,000 used truck transactions over the past decade. The company is working with used vehicle market participants to push the number of reported transactions significantly higher. ACT estimates that approximately 10 percent of used Class 8 transactions are included in the database.

In the current report, ACT has initiated trend reports for the average used price for the top-selling Class 8 model for each of the major truck OEMs - Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo.

ACT publishes new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the China truck market.

Used Truck Sales Slow in July on Year-Over-Year Gain - Truckinginfo.com







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