Business Intelligence
Staff -- Purchasing, 5/18/2006 6:00:00 AM
$94.3B
The amount the trucking industry will spend on fuel in 2006
Source: American Trucking Associations
WHAT IT MEANS: The higher their costs, the higher yours. Diesel fuel crept up to nearly $3/gallon in late April, kicking fuel surcharges up for freight buyers.
41%
Buyers planning to increase spending on transportation
Source: www.Purchasingdata.com
WHAT IT MEANS: There has been a very gradual decrease (1% per month for the past quarter) in the percentage of buyers that plan to increase their transportation spend. Buyers may be indicating that despite high demand, fuel surcharges and rate increases are simply too much to handle.
5%
Percentage of trucks that sit idle due to driver shortages
Source: Trincon Group
WHAT IT MEANS: The shortage of truck drivers is one of the factors limiting capacity in the trucking industry, which, in turn, puts a stranglehold on shippers. Various industry estimates put the shortage at 20,000 drivers and some estimates say it could reach 111,000 by 2014 based on demographics and demand for trucking.
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