What's ahead for trucking market in 2023

What’s ahead for trucking market in 2023

Christmas came early everyone! It’s our annual conversation with ACT Research President and Senior Analyst Kenny Vieth in which we unpack what happened in the trucking market this year, take stock of how close the market predictions were last year and take a look ahead at what’s coming down the road in Q1 of 2023 and beyond.

It’s the gift that keeps on giving with notable trucking market insights from Vieth such as:

• In 2022, we’re likely to see an all-time record for carrier profitability. “The first half of the year was just so good,” Vieth said. ” Now we’re starting to see it slow down in the second half.”

• Contract rates follow spot rates: “If spot rates are down 30% in the fourth quarter, contract rates are going to be down 10% to 15% by the time we get to the end of the first quarter.”

• The reduction in economic activity in 2022 sets the stage for what’s to come in 2023.

And what exactly is to come in 2023?

For that answer, watch the video above.

The ghost of truck market predictions past

Check out the previous installments of our market outlook conversations with ACT Research.

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No script? No plan? No problem. Welcome to Fleet Equipment Unscripted—the video interview series that connects you with the greatest minds in the heavy-duty trucking world.

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