AUSTIN, Texas — The fluctuating U.S. economy has emerged as the top concern for the trucking industry, reaching its highest ranking since the Great Recession of 2008. This was revealed in the American Transportation Research Institute’s (ATRI) annual survey, which highlights the foremost worries of carriers and commercial drivers.
Economic uncertainties have surpassed fuel prices as the leading issue in the report presented on Saturday at the American Trucking Associations Management Conference and Exhibition. Fuel prices, which have been volatile throughout the year with a brief dip from March to June, dropped to third place. Truck parking availability claimed the second spot, its highest ranking since first appearing on the list in 2012. Notably, zero-emission vehicles made the list for the first time, debuting at number ten.
“It’s been a tough year,” said Cari Baylor, president of Baylor Trucking, an Indiana-based company with a 75-year history, 200 trucks, 980 trailers, and two terminals in the eastern and southern U.S. Baylor Trucking was acquired by Werner Enterprises in October 2022.
Rising interest rates, increased diesel and maintenance costs, higher wages for truckers, and soaring insurance premiums have driven the cost of operating a truck to $2.25 per mile in 2022, the first time it has exceeded $2, according to a separate ATRI report.
Truck parking, a consistent top-five issue since 2015, ranked second. ATRI has been researching truck parking since 1993, and a congressionally directed study on the issue began the same year, said ATRI President Rebecca Brewster.
Truck drivers spend an average of 56 minutes a day searching for parking, with only one spot available for every 11 drivers. The problem has worsened since the full enforcement of the electronic logging device mandate in 2018, which restricts driving to within a 14-hour window. To mitigate this, Baylor authorizes its long-haul drivers to pay for overnight parking if necessary. Technology like highway signage with real-time alerts of open spaces at rest stops helps but hasn’t resolved the issue.
After fuel prices at number three, the remaining top ten issues were:
- Driver shortage: This issue, which topped the list for five consecutive years from 2017-2021, tends to be less pressing during slower economic times.
- Driver compensation: ATRI’s study found that driver pay and benefits averaged 90 cents per mile in 2022, comprising 40% of total operating costs.
- Lawsuit abuse reform: First appearing in the top ten in 2005, this issue has gained attention due to ATRI’s studies on nuclear verdicts against trucking companies.
- Driver distraction: This concern re-emerged in the latest study after topping the list among law enforcement participants.
- Driver retention: This issue dropped from number seven a year ago.
- Driver detention: Delays at shipper facilities ranked high among commercial drivers but didn’t make the carriers’ list.
- Zero-emission vehicles: Reflecting growing awareness of regulatory pressures to adopt electric vehicles.
Carriers and drivers agreed on only three of the top ten issues: the economy, truck parking, and fuel prices, though they ranked them differently. Carriers placed the economy first, while drivers ranked it seventh. Truck parking was second for drivers but eighth for carriers. Fuel prices were third for drivers and fifth for carriers.