October trucking conditions reflect toughest environment since April 2020

October trucking conditions reflect toughest environment since April 2020

The October TCI was the weakest since the all-time low reading of -28.66 in April 2020.

Sharp increases in fuel and financing costs coupled with an unfavorable trend in freight rates resulted in a major deterioration of financial conditions for trucking companies during October. FTR’s Trucking Conditions Index (TCI) fell to a -11.16 reading from the -2.35 reported in September. The October TCI was the weakest since the all-time low reading of -28.66 in April 2020.

“We do not see a month on the horizon as difficult as October was for trucking companies, but nor do we expect much for carriers to get excited about,” said Avery Vise, vice president of trucking, FTR. “The rate environment looks to keep market conditions at least mildly negative into 2024. Plunging diesel prices obviously are bolstering financial conditions in the near term, and the hit from financing costs likely will begin moderating by mid-2023. Those costs have disproportionately hurt smaller carriers recently, and improvements in those situations likewise will not help larger carriers as much as smaller ones.”

You May Also Like

Albert Gore named ZETA executive director

Joe Britton, ZETA’s previous executive director, will remain president of ZETA’s board of directors.

The Zero Emission Transportation Association (ZETA) announced that Albert Gore has taken over as executive director effective Jan. 3. Gore joins ZETA after seven years at Tesla, most recently as the lead for public policy and business development in the Eastern and Midwestern United States—having previously been deputy director of policy and electricity markets at SolarCity prior to its acquisition by the company. Joe Britton, ZETA’s previous executive director, will remain president of ZETA’s board of directors.

Why this year will be the ‘Year of Fuel Efficiency’ regulations

Plus top takes on the CHIPS Bill, Repair Act and what this Congress can actually get done.

HDAD-EV-National-Regulations-1400
FTR reports: Shipper’s conditions stabilize

Aside from a large increase in diesel prices during the month, shippers’ market conditions were more positive m/m.

Live Blog: Heavy Duty Aftermarket Dialogue 2023 (Updated!)

It’s the first trucking event of the year! Here’s what happened, as it happened.

Heavy-Duty-Aftermarket-Dialogue-2023
Amid loose market balance, carriers start tapping the brakes on capacity

Volumes softened to the lowest levels seen since March and April of 2020.

ACT-Research-For-hire-trucking-600

Other Posts

EV truck manufacturers to give updates at Work Truck Week 2023 

NTEA has released more information about EV-related sessions.  

Trucking market 2023 prediction: Plan for uncertainty

The latest from FTR’s State of Freight online press conference.

transprotation-market-generic-1400
November used truck average retail price negative Y/Y

The average retail used truck price has descended into negative y/y territory for the first time since August 2020.

Equipment Finance Industry confidence improves in December

Cautious optimism is the theme as we move into 2023.