Their slogan is, “Trucking Moves America Forward,” and 2014’s trucking stats prove it beyond a shadow of a doubt. The American Trucking Association released its annual report, American Trucking Trends, this week, confirming significant milestones for the industry last year.
The organization has been preparing the report for decades, a kind of almanac of the trucking industry. Highlights from the report, as discussed in a video featuring ATA Chief Economist Bob Costello, include:
- An impressive $700.4 billion in revenue in 2014—the highest total revenue in history for the industry and the first time surpassing the $700-billion mark.
- This surge in revenue accounted for 80.3 percent of all freight transportation spending.
- Nearly 70 percent of all domestic freight was moved by truck, the equivalent of 9.96 billion tons.
- Over 7 million people are employed in the industry; more than 3 million are truck drivers.
- The industry contributes significantly to infrastructure by paying $16.5 billion in user fees and other taxes (gas tax, diesel tax, etc.).
- Over $9 billion was wasted on congestions costs.
The increase in revenue is partly explained as a combination of a jump in freight volume plus tightening capacity. Along with increased revenue and tonnage being moved comes increased cost for drivers—namely, fuel costs. The Department of Energy released its forecast for 2015, predicting diesel prices would rise by 2 cents to $2.88 a gallon, to average in the $2.80s and $2.90s through early next year. Department estimates put the fuel price at $3 beginning in March 2016, to average out at $3.12 next year.
At Calhoun Truck Lines, we’re fortunate to work with a reputable group of drivers and value the skill set they bring to the road on a daily basis. Learn more about our fleet and Midwest truck driving opportunities with our company.