Realistically, how long do y’all expect the industry to be in a slump? I’ll be at the one year mark in Dec with my own authority. Luckily i came across 2 good brokers that keep my week pretty well filled out and they’re not dropping the rates on me to bad. Still the money isn’t like it was
Question for the vets??
Discussion in 'Experienced Truckers' Advice' started by Texasrig, Sep 27, 2022.
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There will always be "crumbs" for O/O with Authority, O/O's Leased to Companies will survive, Co. Drivers will earn a Living....(it is "MegaBig" companies time) Note...that there are companies already Testing Driverless Trucks, keeping a Low Profile.......The future is uncertain....Lite bug Thanks this. -
I remember lower spot rates just a few years ago..problem now is the fuel prices.
If you jumped in thinking last year’s rates were the way it was..welcome to reality. -
Brace yourself, we're in uncharted territory.
Normally, I'd say bout a year. These days? Probably a lot longer than that.Rubber duck kw Thanks this. -
Translation...'even the people who should know, don't know.
I trimmed a little fat off my company and we should be alright but I know a lot of guys who are one breakdown away from bankruptcy.blairandgretchen and tscottme Thank this. -
Could be a year could be a few years. We haven't hit bottom yet either I don't believe.
Opus and MartinFromBC Thank this. -
Those who have been in trucking as an owner operator or with their own company understand that trucking is a cyclical business. You are going to have good times and bad times. Sometimes you make the years profit with just a couple months. Not every week or month will be very profitable. The problem is because of the whole corona deal the rates spiked with fuel prices dropping and people new to the industry thought that was typical. I remember few years ago spot market freight for flatbed was tough to get $1.25 a mile sometimes. There’s a reason mega trucking companies have profit margins so low (some even 1%).
Just make smart decisions, don’t finance more than you can handle, pay yourself a modest salary, keep the rest in the business.
As to answer your question I think fuel prices will get better next year around $3 but I don’t see an upswing in total profit until after the next presidential election.MartinFromBC and Opus Thank this. -
You can take a leap and make your own product to haul even.
Why not move somewhere that needs a pit, open a pit, and then go after highways contracts, construction sites and such, buy a fleet of gravel trucks, and live the dream -
Opus and Rubber duck kw Thank this.
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