According to a survey conducted by Overdrive Magazine, most owner-operators are making less in 2018 than they did before the ELD mandate went into effect. This is despite the capacity crunch and rising freight rates.
Overdrive conducted a survey of drivers where they asked owner-operators how much they were expecting in net income for 2018. They also asked whether they were making more or less money than before the ELD mandate went into effect.
Overdrive doesn’t provide any raw data in their article such as number of drivers surveyed. But according to their analysis, 65% of drivers reported that they expected to net less money in 2018 than they did before the ELD mandate.
Here’s a breakdown of O-O estimated net income in 2018, and the change from pre-ELD days:
- 21% of O-Os estimated a net income of more than $70,000 (decreased by 27%)
- 50% of O-Os estimated a net income of $40,001-$70,000 (increased by 14%)
- 29% of O-Os estimated a net income of less than $40,000 (increased by 21%)
Top earning truckers dropping into lower pay categories would make sense if it was a slow freight market. But freight volume hit the highest tonnage in two decades and freight capacity hasn’t been keeping up. O-Os should therefore be seeing a dramatic increase in rates, but according to Overdrive, that’s not happening.
Instead, these numbers point to a serious problem for independent truckers.