Thinking I might need to go back to OTR

Thanks for the info, will definitely keep these in mind

 

Both the ATA and OOIDA have published those numbers. Also have seen in on Freightwaves and other trucking publications.
It isn't hard to figure out. My company was started in 1981 as a result of deregulation. it has a number in the low 6 digits, 208,XXX. Do a little survey next time you walk through a truckstop just looking at the DOT numbers. The highest I have seen so far is in the 3,500,XXX range. Now of course numbers go dormant, get sold, get cancelled. But even if you say 50% are active, that is still 1.7 million motor carriers in the US.
According to the same sources there are about 3.2 million CDL holders in the country.

 

But but but... Theres a trucker shortage!


Funny how its a shortage until you get your cdl, then find out theres actually too many truck drivers.

 

This.

According to some of you there never in history of trucking has been a good time to get into trucking.

Yet, there you are.

 

I wish someone had told me 30 years ago that it was a bad time to get into trucking.

 

Its a great time to buy a truck. Buy low, sell high, or cost average. Apparently most around here don't get that and hence, the never ending trail of failure when basic economics eludes them. People cant think past this month or next. The sheep mentality, ignore them.

Take advantage of the current "name your price" truck market. Rates will return, they will crash again. Its a very predictable 4-5 year cycle as history has shown over the last 25 years. Some valleys are deeper, and some peaks are higher than others.

I wasn't exactly in the market, but when I was recently offered a $22k discount on a new truck, well, I'll take advantage of that.

 

Has history shown the amount of entrants coming into the industry at the rapid pace they currently are? How many previous 4-5 year cycles have had 34,000 new entrants per year?

 

But out of the 34,000 that enter, how many drop out? So it may start with 34,000 and only say 10,000 make it.

 

I also left the industry in 2016 to help out my dad who was dying from dementia.

I sold my truck that I had already paid off back then because I got used to being home even after my dad passed.

Trucking is an industry that will always be in demand. Granted you won’t always make a killing but there always is demand so don’t let things in the market scare you.

If nothing else... buy a truck now while they are cheap... run a couple loads a month to make the payments and run under another company’s authority so the insurance will be cheaper.

Once rates settle in better then apply for your own authority and insurance and continue on. Just my 2 cents.

Company driver 4 years, owner op 6 years.

 

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